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29 Dec 2014
WTI Crude February contract directionless – DayTradeIdeas
FXStreet (Barcelona) - Jason Sen of DayTradeIdeas notes that tue WTI Crude February contract is directionless with immediate resistance at 5500/5510.
Key Quotes
“WTI Crude February contract directionless with immediate resistance at 5500/5510. Be ready to go with a move above here to target resistance at 5565/75. A break above here however could target 5630/40. Try shorts with stops above 5680. Be ready to go with a break higher using 5640/30 as support & look for a move towards resistance at 5730/50.”
“A break below last week’s low of 5451 risks a retest of 5405/00 before the 2 week low at 5360. Just be aware that a break lower this week keeps the market under pressure in the longer term bear trend to target 5305/5295.”
Key Quotes
“WTI Crude February contract directionless with immediate resistance at 5500/5510. Be ready to go with a move above here to target resistance at 5565/75. A break above here however could target 5630/40. Try shorts with stops above 5680. Be ready to go with a break higher using 5640/30 as support & look for a move towards resistance at 5730/50.”
“A break below last week’s low of 5451 risks a retest of 5405/00 before the 2 week low at 5360. Just be aware that a break lower this week keeps the market under pressure in the longer term bear trend to target 5305/5295.”