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 | 6.5865 | 6.5907 | 6.5917 | 6.5557 |
| USOil | 100.649 | 100.683 | 101.778 | 100.558 |
| UKOil | 107.94 | 108 | 110.026 | 104.884 |
| NGAS | 3.0445 | 3.0565 | 3.1284 | 3.0259 |
| WHEATF | 659.57 | 660.67 | 670.81 | 655.82 |
| XAUUSD | 4187.23 | 4187.53 | 4187.82 | 4163 |
| XAGUSD | 57.29 | 57.612 | 57.621 | 56.715 |