WTI Crude Oil is fluctuating above the key broken high at 100.70, which turned now into a solid support. However, price has been excessively overbought recently, and the bullish momentum is starting to lose steam, accordingly, we will turn from bullish to neutral ahead of today’s employment report, which also may cause sharp volatility.
Key technical support levels to consider at 100.70 then 99.80.
Support: 100.70, 99.75, 99.20, 98.90, 98.00
Resistance: 101.70, 102.50, 13.20, 103.75, 104.30
Recommendation Based on the charts and explanations above, we prefer to be neutral
Key technical support levels to consider at 100.70 then 99.80.
Support: 100.70, 99.75, 99.20, 98.90, 98.00
Resistance: 101.70, 102.50, 13.20, 103.75, 104.30
Recommendation Based on the charts and explanations above, we prefer to be neutral