WTI Crude Buying Opportunity And Analysis For Today

Published 06/25/2020, 02:47 AM
Updated 07/09/2023, 06:31 AM

WTI Crude August Future broke key support at 4000/3980 for a short term sell signal, but we did get the chance to enter a short at 3980/4000 on the bounce before targeting minor support at 3910/3890 and a buying opportunity at 3830/10. This gave us a tasty profit but longs here were stopped below 3780.

WTI Crude Daily Chart

Today’s Analysis

WTI Crude August hits a buying opportunity at 3750/30. Try longs with stops below 3700. A break lower targets 3670/60 and 3620/00.

First resistance at 3860/80. Shorts need stops above 3910. A break higher targets 3950/60 and a selling opportunity at 3990/4010. Stop above 4030.

Trends

  • Weekly outlook is positive
  • Daily outlook is positive
  • Short Term outlook is neutral

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