WTI crude oil: Buying opportunity at 39.55

Jason Sen DayTradeIdeas.co.uk

WTI Crude

WTI Crude December Future holding on to gains but only trading sideways all this week. We bottomed exactly at best support at 4120/4085.

Daily Analysis

WTI Crude strong support at 4140/20 & again at 4085/75 for today's scalping opportunities. A break lower targets 4010/00 then meets a buying opportunity at 3955/35, with stops below 3900. A break lower again sees 3935/55 working as resistance to target 3890/80, probably as far as 3845/35.

Longs the support levels target 4165/70, perhaps as far as 4200. On a break higher look for this week's high at 4240/45. A break higher again retests minor resistance at last week's high at 4290/4305.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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