Crude Oil (WTI) may rise to 78.70 - 79.30

Pivot

77.35

Our preference

Long positions above 77.35 with targets at 78.70 & 79.30 in extension.

Alternative scenario

Below 77.35 look for further downside with 76.80 & 76.40 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

80.00

79.30

78.70

77.85 Last

77.35

76.80

76.40

Number of asterisks represents the strength of support and resistance levels.
Chart PatternsTrend AnalysisWave Analysis

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