Crude Oil (WTI) may fall to 80.00 - 80.25

Pivot

81.00

Our preference

Short positions below 81.00 with targets at 80.25 & 80.00 in extension.

Alternative scenario

Above 81.00 look for further upside with 81.35 & 81.70 as targets.

Comment

Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances

81.70

81.35

81.00

80.67 Last

80.25

80.00

79.55

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