WTI Crude

WTI Crude November Future for 5 weeks we have been bouncing around in a 5 point range of 3660 – 4140/70. Down 1 week & up the next.

On Tuesday & Wednesday we recovered all of Friday & Monday's losses.

Daily Analysis

WTI Crude levels are still relevant but if you find yourself with a profitable position I suggest you take it quickly! We were offered about 40 ticks profit on any shorts at minor resistance at 4020/40. The break higher yesterday topped exactly at strong resistance at 4100/20. Obviously bulls need a break above last week's high at 4147 for a breakout buy signal targeting 4200/20 & 4260/80.

Shorts at at 4020/40 target very minor support at 4080/70 then strong support at 4030/00. Try longs with stops below 3970. A break lower targets minor support at 3910/00 which held the downside so far this week. A break lower this time targets 3860/40. On further losses look for 3770/60.

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WTI

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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