Crude Oil Short Term Correction?
WTI Crude/ Mini Crude
-market slumped following forecast for a warm US winter weighed despite tight supply and global energy crunch
-market likely to move higher if market stays above 82.50; target market range 82.50-85.85
-support level:
S1 82.00 S2 81.25 S3 80.49
-resistance level:
R1 83.00 R2 83.75 R3 84.51
-yesterday daily settlement: 82.50
mid: 82.38
strategy 1: Long if stay above 83.50
tg stop 82.75
tg exit 84.25-85.76
strategy 2: Short if stay below 81.30
tg stop 82.05
tg exit 79.04-80.55
-market slumped following forecast for a warm US winter weighed despite tight supply and global energy crunch
-market likely to move higher if market stays above 82.50; target market range 82.50-85.85
-support level:
S1 82.00 S2 81.25 S3 80.49
-resistance level:
R1 83.00 R2 83.75 R3 84.51
-yesterday daily settlement: 82.50
mid: 82.38
strategy 1: Long if stay above 83.50
tg stop 82.75
tg exit 84.25-85.76
strategy 2: Short if stay below 81.30
tg stop 82.05
tg exit 79.04-80.55