WTI Crude Oil Intra-day Analysis 8th Feb. 2021
Caution
Our Pivot: 57.65
Our Preference: Short sell below 57.46 with strict stop loss of 57.65 and profit target at 57.10 with extension towards 56.80.
Alternate Scenario: Upward penetration of 57.65 will call for 58.30 & 59.10.
NOTE: WTI is caged in an ascending wedge on hourly chart and if it would not succeed in penetration above resistant trend line this wedge then a sharp bearish rally would be witnessed for a deeper correction therefore short selling with strict stop loss of resistant trend line of this wedge is recommended.
Chart with supports & resistances:
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Technical Levels
| Level | 1st | 2nd | 3rd | Supports | 0.00 | 0.00 | 0.00 | Resistances | 0.00 | 0.00 | 0.00 |
|---|
Commodities Live Prices
| Ticker | Bid | Ask | High | Low |
|---|---|---|---|---|
| Copper | 5.051 | 5.0552 | 5.0881 | 4.9134 |
| USOil | 65.227 | 65.261 | 65.578 | 64.643 |
| UKOil | 67.89 | 67.95 | 68.344 | 67.349 |
| NGAS | 3.5396 | 3.5516 | 3.6009 | 3.516 |
| WHEATF | 540.59 | 541.69 | 548.43 | 540.57 |
| XAUUSD | 3334.78 | 3335.08 | 3350.5 | 3329.19 |
| XAGUSD | 36.535 | 36.568 | 36.854 | 36.218 |