WTI Crude rebounded after testing 104.00 support area yesterday, to acquire our upside target at 105.40 area. However price retreats with the start of the today’s session, where may see a another attempt to break 104.00 support today. We prefer to move to the sidelines and wait for either a rebound or a break above 105.50, and that would confirm an extension of the rebound, or a break below 104.00 to target 102.00 areas.
Support: 104.75, 104.30, 103.90, 103.20, 102.25
Resistance: 105.50, 106.00, 106.50, 107.45, 108.00
Recommendation Neutral