Daily Forecast - 05 April 2016
WTI Crude May contract
WTI Crude lower again & holding below 3595/3585 for a sell signal. 3585/95 is now resistance as we look to target 3530/20 then 3490/85. If we continue lower look for support at 3410/00 which could hold the downside initially this week.
Strong resistance at 3595/3585 but a recovery above 3610 could signal a false break lower. Gains would then re-target 3660/70 & perhaps as far as minor resistance at 3710/15. We should struggle again today but further gains could target 3750/60. If we make it as far as strong resistance at 3815/25, exit any remaining longs & try shorts with stops above 3860.
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