WTI Crude Oil reversed its course. After breaking, support is at 97.65, and tentatively breaking below the ascending trend line for the latest bullish wave as indicated on the chart. The bearish bias is favored today, although we may see some support from areas around 96.40, and a retest to the upside of 97.65. but 97.65 should limit rallies for today.

Support: 96.50, 96.20, 95.25, 94.45, 94.00
Resistance: 97.65, 98.45, 99.00, 99.75, 100.70
Based on the charts and explanations above, we prefer to short oil below 97.50, targeting 96.40 and 95.30. Stop loss above 98.30

Support: 96.50, 96.20, 95.25, 94.45, 94.00
Resistance: 97.65, 98.45, 99.00, 99.75, 100.70
Based on the charts and explanations above, we prefer to short oil below 97.50, targeting 96.40 and 95.30. Stop loss above 98.30