WTI Crude Oil May Trade With Bullish Bias, Support At $102.70 Levels

Published 07/09/2013, 05:14 AM
Updated 05/14/2017, 06:45 AM
CL
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WTI Crude Oil retested 102.10 previous high and support level, before bouncing higher again, the overall bullish wave continues to be intact, and thus the bullish structure is valid, accordingly, we expect the bullish bias to remain dominant. A break below 102.10 may signal a move to 100.70.
WTI Crude Oil
Support: 102.70, 102.10, 101.45, 100.90, 100.50
Resistance: 103.55, 104.00, 104.30, 105.00, 105.50

Recommendation Based on the explanations above, we prefer to long oil above 102.50 targeting 103.00 and 103.55. Stop loss with hourly closing below 102.00

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