WTI Crude Holds Below 4665/55
Jason Sen | Oct 15, 2015 05:50AM ET
WTI crude holding below 4665/55 re-targets support at 4590/85, which is now the most important of the day, and key to future direction. It could be worth trying longs with stops below 4555, but we must be ready to sell a break below here to target minor support at 4490/85. If we continue lower, look for a test of October lows and strong support at 4400/95.
Only above 4665 is less negative for today and targets 4690, of course. A break above is more positive and targets 4740/45, perhaps as far as strong resistance at 4825/30. Shorts need stops above 4860. A break higher could then target strong resistance at 4925/30.
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