⚡ FLASH SALE: Spot opportunities like a pro? Here's one: InvestingPro at 50% offClaim Sale

WTI Crude Daily Targets For July 7, 2020

Published 07/07/2020, 03:17 AM

WTI Crude August Future staged a volatile recovery over the past 2 weeks, although it was a lot of work for a 300 tick gain, & would have been impossible to hold a long with a trailing stop. Yesterday we held above 3990/4010 re-targeting 4040/50 & 4110/20. We topped exactly here.

Today’s Analysis

WTI Crude August holding above first support at 3990/4010 (in fact we bottomed exactly here yesterday) re-targets 4040/50, perhaps as far as 4110/20. Resistance at 2 week highs of 4150/60 should be a challenge. Unlikely but a break higher should fill the gap at 4210/20.

A break below 3990 is obviously negative for today re-targeting 3950/40, perhaps as far as support at 3910/3890. Exit shorts & try longs with stops below 3850.

WTI Crude Weekly Chart

Trends

  • Weekly outlook is positive
  • Daily outlook is positive
  • Short Term outlook is neutral
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.

Which stock should you buy in your very next trade?

With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.

In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.

With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.

Unlock ProPicks AI

Latest comments

ashish jainJul 07, 2020, 21:48
hi jason sen sir
Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.