WTI Crude Daily Forecast
Jason Sen | Aug 17, 2018 05:02AM ET
WTI crude holds important 200 day moving average support at 6450/40 which remains key to direction, although longs look risky without a buy signal & we are not oversold. The bounce holds the first target of 6530/40 as I write but above here meets quite strong resistance at 6590/6600. A break higher targets a selling opportunity at 6690/6700.
Support at 6450/40 is the most important of the day of course. A break below 6420 is a sell signal targeting 6395/90 & the June low at 6360. A break below here is obviously negative targeting 6330/25 & perhaps as far as 6265/55.
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