Oil Analysis (Crude Oil (WTI) (Q5) Intraday: under pressure)

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Oil Analysis (Crude Oil (WTI) (Q5) Intraday: under pressure)

Source: Orbex Forex Broker (Review and Rebate Program)

Pivot: 60.9

Our preference: Short positions below 60.9 with targets @ 59.6 & 59.3 in extension.

Alternative scenario: Above 60.9 look for further upside with 61.55 & 61.8 as targets.

Comment: Technically the RSI is below its neutrality area at 50.

Oil Chart

Oil

 

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