WTI Crude: Try Longs With Stops Below 5150
Jason Sen | Jan 25, 2017 05:07AM ET
WTI Crude holding below 5305/00 retests good support at 5275/65 has been working, but further losses today re-target 5230/20, perhaps as far as 5210/00 before last week's low at 5181/5172. Try longs with stops below 5150. A break lower however is a sell signal targeting 5120 and 5085/80.
Holding above 5305/00 re-targets first resistance at 5340/50, which should still be key to direction and shorts need stops above 5370. Be ready to buy a break above minor short term trend line resistance at 5370. A break sustained break higher targets 5388/90, then strong resistance at 5430/40. Try shorts with stops above 5475.
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