![[DAILY NOTION] WTI Crude Levels Are Still Relevant](https://socialstatic.fmpstatic.com/social/202010/8ac88054bd3e421ea918b70751ba18e5.png?x-oss-process=image/quality,q_70/format,jpeg)
WTI Crude November Future
For five weeks we have been bouncing around in a 5-point range of 3660 – 4140/70. Down one week & up the next.
On Tuesday & Wednesday, we recovered all of Friday & Monday's losses. Yesterday we held the low for the week & headed back towards Wednesday's high. Friday was then a narrow inside day. Clearly we are in a sideways trend.
Daily Analysis
WTI Crude levels are still relevant but if you find yourself with a profitable position I suggest you take it quickly! We topped exactly at strong resistance at 4100/20 last week. Obviously bulls need a break above October's high at 4147 for a breakout buy signal this week targeting 4200/20 & 4260/80.
Shorts at at 4100/20 target strong support at 4030/10 (we bottomed exactly here on Friday). Longs need stops below 3985. A break lower targets minor support at 3910/00 which held the downside twice so far this week. A break lower this time targets 3860/40. On further losses look for 3770/60.
Daily Outlook: Neutral
Telah diedit 19 Oct 2020, 16:25
Peringatan: Pendapat yang disampaikan sepenuhnya merupakan milik penulis dan tidak mencerminkan posisi resmi Followme. Followme tidak bertanggung jawab atas keakuratan, kelengkapan, atau keandalan informasi yang disediakan, serta tidak bertanggung jawab atas tindakan apa pun yang diambil berdasarkan konten ini, kecuali dinyatakan secara tertulis.
Tinggalkan pesan Anda sekarang