WTI Crude Below 2680 Risks Retest Of Important January Lows
Jason Sen | Feb 11, 2016 03:40AM ET
WTI crude holding below 2720 is negative and below 2680 risks a retest of important January lows at 2632/19. Obviously this is the most important level of the day but I would not bet too much on it holding. Be ready to sell a break below here to target 2565/60, 2545/40 and would you believe 2003 year lows at 2504. Further losses targets 2002 Q4 lows at 2482. Then we are looking for 2440, 2420 and 2380.
Bears very much in control, so selling in to strength remains the profitable trade. First resistance at 2740 then 2775. If we continue higher look for 2870/75.
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