Crude Oil - We look to Sell a break of 5420

Pia-first Team PIA-first

Crude Oil - We look to Sell a break of 5420 (stop at 5465)

Crude Oil - Trades at the most positive level since 03/01/2017. Prices spiked higher and stalled at resistance in early trade. Further selling pressure led to a reversal in price action. Bias is mildly bearish today but we need to see a break of 5420 to confirm the downward pressure. Further downside is expected, however, due to the strong support below we prefer to sell a break of 5420, which will confirm the bearish sentiment. Our profit targets will be 5350 and 5320.

Oil Current Trading Positions

Sell 67%

Buy 33%

Avg Sell Price 53.2550

Avg Buy Price 51.5000

Liquidity Distribution

Author

Pia-first Team

PIA-first

Our analysis service is provided by 4 market professionals who have between them spent 85 years in investment bank and professional firm dealing rooms as traders, salesmen and analysts.

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