WTI Crude Oil Intra-day Analysis 8th Feb. 2021
Caution
Our Pivot: 57.65
Our Preference: Short sell below 57.46 with strict stop loss of 57.65 and profit target at 57.10 with extension towards 56.80.
Alternate Scenario: Upward penetration of 57.65 will call for 58.30 & 59.10.
NOTE: WTI is caged in an ascending wedge on hourly chart and if it would not succeed in penetration above resistant trend line this wedge then a sharp bearish rally would be witnessed for a deeper correction therefore short selling with strict stop loss of resistant trend line of this wedge is recommended.
Chart with supports & resistances:
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Technical Levels
| Level | 1st | 2nd | 3rd | Supports | 0.00 | 0.00 | 0.00 | Resistances | 0.00 | 0.00 | 0.00 |
|---|
Commodities Live Prices
| Ticker | Bid | Ask | High | Low |
|---|---|---|---|---|
| Copper | 4.6503 | 4.6545 | 4.7391 | 4.6261 |
| USOil | 63.297 | 63.331 | 63.693 | 62.738 |
| UKOil | 66.184 | 66.244 | 66.626 | 65.694 |
| NGAS | 3.5316 | 3.5436 | 3.63 | 3.4749 |
| WHEATF | 522.57 | 523.67 | 525.31 | 510.33 |
| XAUUSD | 3179.53 | 3179.83 | 3257.28 | 3174.92 |
| XAGUSD | 32.227 | 32.263 | 32.997 | 32.108 |