As suggested yesterday, WTI Crude Oil extended the bullish wave after breaking 96.00 levels, to reach areas at 97.60-97.65 resistance. Despite the strong bullish bias, the overall trend remains sideways, as shown on the four-hour chart above, where only a sustained break above 100.00 levels may signal further upside. For now, we prefer to move to the sidelines, as price has approached the top of this sideways range.
Support: 96.50, 96.10, 95.50, 95.00, 94.50
Resistance: 97.60, 98.00, 98.90, 99.20, 100.00
Recommendation Based on the charts and explanations above, we prefer to be neutral
Support: 96.50, 96.10, 95.50, 95.00, 94.50
Resistance: 97.60, 98.00, 98.90, 99.20, 100.00
Recommendation Based on the charts and explanations above, we prefer to be neutral