Credit: Shutterstock photoWTI Crude hit strong 6 month trend line resistance at 97.35 to fall back very quickly once again. The market could have topped out now after the 1 month rally and we look for 96.39 today. Below here we have good support at 95.85 which held yesterday for the second day & could again today. However any longs here need a stop below 95.50 for continued losses down towards 94.82/65. We should see a good bounce from here so worth exiting shorts & trying longs with a stop below 94.35.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
