Crude Oil (WTI) may fall to 73.80 - 74.50

Pivot

76.00

Our preference

Short positions below 76.00 with targets at 74.50 & 73.80 in extension.

Alternative scenario

Above 76.00 look for further upside with 76.60 & 77.30 as targets.

Comment

The RSI has just struck against its neutrality area at 50% and is reversing down.

Supports and resistances

77.30

76.60

76.00

75.37 Last

74.50

73.80

73.10

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