WTI crude oil: Strong resistance 41.30

Jason Sen DayTradeIdeas.co.uk

WTI Crude

WTI Crude September Future headed higher than expected reaching 4149. I suggested moving stops above 4140 because I did not trust the break – I hope this allowed you to hold on the shorts. I still think we will go lower.

Daily Analysis

WTI Crude has strong resistance at 4130/50 & again at 4200/4210. I would be very surprised to see a break higher. However if seen we are likely to retest the August high at 4358/78.

Obviously our shorts need prices to move back below 4080 to target 4040/30 & 3990/80, perhaps as far as 3950/40.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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