WTI Crude Oil - Intraday - We look to Sell at 40.96 (stop at 41.29)
Price action has continued to range within a triangle formation.
Trend line resistance is located at 40.96.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 40.96, resulting in improved risk/reward. Preferred trade is to sell into rallies.
Our profit targets will be 40.30 and 39.50
Resistance: 41.43 / 41.72 / 42.65
Support: 40.30 / 39.50 / 38.90
Price action has continued to range within a triangle formation.
Trend line resistance is located at 40.96.
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 40.96, resulting in improved risk/reward. Preferred trade is to sell into rallies.
Our profit targets will be 40.30 and 39.50
Resistance: 41.43 / 41.72 / 42.65
Support: 40.30 / 39.50 / 38.90
Trade closed: stop reached:
Stop loss reached!
