WTI Crude oil outlook.
WTI Crude erratic for a week now with no direction. We are overbought in a bear trend so my best guess is that eventually we will head lower.

Strong resistance at 5230/35 just holding yesterday.

WTI Crude topped exactly at strong resistance at 5230/40. Bulls require a break above 5250 today to target 5276/80 & retest quite strong resistance at the recovery high at 5320/30. A sustained break above here can take prices another 100 ticks higher towards 5420/40.

Failure to beat strong resistance at 5230/35 targets 5180/70 (holding as I write) but below 5150 look for 5090/80 perhaps as far as support at 5050/40. Further losses test support at 4970/60. A bounce from here is likely on the first test at least but if we continue lower look for 4920. Below 4900 targets 4850 & 4840/30.

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