WTI Crude first resistance at 5135/40 again

Daily Forecast - 21 April 2017

WTI Crude June contract

WTI Crude first resistance at 5135/40 again today but 5185/90 is the main challenge for bulls. A high for the day possible but if we continue higher look for quite strong resistance at 5260/70. Shorts need stops above 5300.

Failure to beat 5090/5100 keeps the pressure on for a retest of the low at 5055/51 but we could continue lower to support at 5015/10. A bounce from here possible on the first test, but longs need stops below 4975.


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