WTI Crude Oil Intra-day Analysis 8th Feb. 2021
Caution
Our Pivot: 57.65
Our Preference: Short sell below 57.46 with strict stop loss of 57.65 and profit target at 57.10 with extension towards 56.80.
Alternate Scenario: Upward penetration of 57.65 will call for 58.30 & 59.10.
NOTE: WTI is caged in an ascending wedge on hourly chart and if it would not succeed in penetration above resistant trend line this wedge then a sharp bearish rally would be witnessed for a deeper correction therefore short selling with strict stop loss of resistant trend line of this wedge is recommended.
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
| Ticker | Bid | Ask | High | Low |
|---|---|---|---|---|
| Copper | 6.2593 | 6.2635 | 6.2994 | 6.1919 |
| USOil | 82.552 | 82.576 | 82.783 | 78.597 |
| UKOil | 88.189 | 88.229 | 88.351 | 83.68 |
| NGAS | 2.9156 | 2.9276 | 2.9319 | 2.8375 |
| WHEATF | 684.71 | 685.07 | 685.43 | 666.07 |
| XAUUSD | 4013.3 | 4014.2 | 4024.11 | 3959.52 |
| XAGUSD | 55.705 | 56.072 | 56.364 | 54.614 |