WTI Crude retreats again, after bouncing higher yesterday the price retreats quickly to and re-push towards the key support area among 103.90-104.30. A break below this support would confirm our suggested bearish view and extend the bearish direction probably towards 102.00 and 100.70 levels.
Support: 104.30, 103.90, 103.20, 102.25, 101.45
Resistance: 104.85, 105.50, 106.00, 106.50, 107.45
Recommendation Short below 105.50 targets at 104.75,104.00 and 102.30. Stop loss above 106.50. Or Short with four-hour closing below 103.95, targets at 102.30 and 101.70. Stop loss above 105.00