WTI Crude Oil started a downside correction, extending towards 104.00 support area, holding above this area is necessary for not extending the losses. We expect an intraday bullish rebound, so long as 103.90 area is holding.
Support: 103.90, 103.50, 102.30, 102.00, 101.55
Resistance: 104.95, 105.30, 106.00, 106.50, 107.30
Recommendation Based on the explanation above, we prefer to long oil above 104.20 targeting 105.00 , and 106.00. Stop loss hourly closing below 103.90.