WTI Crude: Selling Opportunity At 9790/9800
CommodityOnline | Feb 04, 2014 10:05AM ET
WTI Crude recovered to 9780 & topped almost exactly here as predicted. We are now sitting below 9690/80 & could retest our target of 9635/30 which in fact held the downside perfectly yesterday. A break lower is possible today & could test good support at 9580. A low for the day could be seen but below here we could test 9521 lows last week then good support at 9500/9490.
Immediate resistance at 9685/90 but above here a short term trend line at 9725 could hold a move higher. However above here look for a selling opportunity at 9790/9800.
Get The News You Want
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.