Crude Oil (WTI) may fall to 69.40 - 70.00

Pivot

71.30

Our preference

Short positions below 71.30 with targets at 70.00 & 69.40 in extension.

Alternative scenario

Above 71.30 look for further upside with 72.00 & 72.70 as targets.

Comment

The break below 71.30 is a negative signal that has opened a path to 70.00.

Supports and resistances

72.70

72.00

71.30

70.29 Last

70.00

69.40

68.90

Number of asterisks represents the strength of support and resistance levels.