WTI Crude Oil Intra-day Analysis 1st Feb. 2021

Under Pressure

Our Pivot: 53.25

Our Preference: Short sell below 52.70 with strict stop loss of 53.25 and profit target at 52.00 with extension towards 51.60.

Alternate Scenario: Upward penetration of 53.25 will call for 53.80.

NOTE: WTI is moving in a bearish price channel and right now heading for a correction of its last bearish rally.

Chart with supports & resistances:

Level	1st	2nd	3rd
Supports	0.00	0.00	0.00
Resistances	0.00	0.00	0.00

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