WTI Crude Oil Intra-day Analysis 3rdFeb. 2021
Turning Down
Our Pivot: 55.30
Our Preference: Short sell below 53.00 with strict stop loss of 55.30 and profit target at 54.55 with extension towards 54.30.
Alternate Scenario: Upward penetration of 55.30 will call for 56.10.
NOTE: WTI is being capped by a descending trend line on hourly chart which would push it towards an intraday correction but overall sentiment is still bullish.
Chart with supports & resistances:
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Technical Levels
| Level | 1st | 2nd | 3rd | Supports | 0.00 | 0.00 | 0.00 | Resistances | 0.00 | 0.00 | 0.00 |
|---|
Commodities Live Prices
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