WTI Crude: Important Support At 5205/5195
Jason Sen | Jan 10, 2017 06:51AM ET
WTI crude has the most important support of the day 5205/5195. A break below 5175 therefore is a sell signal and targets support at 5130/25. A bounce from here is possible as we become oversold short term, but longs could be risky. On further losses look for 5070/60.
Gains are likely to be limited with first resistance at 5236/38 then 5270/80. A high for the day is likely here but shorts need stops above 5305. Next target and resistance at 5335/40 should be worth trying shorts again with stops above 5365.
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