WTI Crude Oil Intra-day Analysis 3rdFeb. 2021

• 2021-02-03 22:09:36
• 28 Comments
• 234 Views
• commodities
• Maier Noor

Turning Down

Our Pivot: 55.30

Our Preference: Short sell below 53.00 with strict stop loss of 55.30 and profit target at 54.55 with extension towards 54.30.

Alternate Scenario: Upward penetration of 55.30 will call for 56.10.

NOTE: WTI is being capped by a descending trend line on hourly chart which would push it towards an intraday correction but overall sentiment is still bullish.

Chart with supports & resistances:

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