Technical outlook and chart setups:
WTI Oil remains playing between support and ressitance from yesterday and is trading around $59.86. The Oil has bounced off the Support 57.90 , which is also past resistance turned support. It is still recommended to hold Short positions with risk at $61.81. Immediate support is seen at the level of $58.00 and lower while resistance is seen at $62.55 followed by $61.81, $61.68, and higher respectively. Oils bears should remain in control until prices stay Blow the level of $61.80 in the sessions.
Trading recommendations: Remain Short around at $60.30 to 60.00 a target is open. Which is define by arrow Good luck!
WTI Oil remains playing between support and ressitance from yesterday and is trading around $59.86. The Oil has bounced off the Support 57.90 , which is also past resistance turned support. It is still recommended to hold Short positions with risk at $61.81. Immediate support is seen at the level of $58.00 and lower while resistance is seen at $62.55 followed by $61.81, $61.68, and higher respectively. Oils bears should remain in control until prices stay Blow the level of $61.80 in the sessions.
Trading recommendations: Remain Short around at $60.30 to 60.00 a target is open. Which is define by arrow Good luck!