Crude Oil (WTI) may fall to 77.25 - 77.70

Pivot

78.45

Our preference

Short positions below 78.45 with targets at 77.70 & 77.25 in extension.

Alternative scenario

Above 78.45 look for further upside with 78.90 & 79.30 as targets.

Comment

As long as the resistance at 78.45 is not surpassed, the risk of the break below 77.70 remains high.

Supports and resistances

79.30

78.90

78.45

78.10 Last

77.70

77.25

76.60

Number of asterisks represents the strength of support and resistance levels