Chart

Trends
Week

WTI Crude May contract

Recap
WTI Crude held first resistance at 5280/90. We
wrote: Failure to beat 5280/90 risks further profit Day
taking to support at 5225/15. It is likely we will
have a bit of a battle before a deeper correction so
look for a low for the day here. Try longs with
stops below 5190.
We bottomed exactly at support at 5225/15. Short term
Longs worked perfectly on the bounce to
resistance at 5280/90 before a second buying
opportunity at 5225/15 hit 5268.

Daily Forecast - 19 April 2017

WTI Crude first support at 5225/15 likely to break today to target support at 5130/20. This should be an excellent buying
opportunity with stops below 5095. An unexpected break lower targets 5050/45.

Holding first support at 5225/15 again today re-targets first resistance at 5280/90. Unlikely, but if we continue higher look for
5320/30 then try shorts at 5365/75 with stops above 5420. An unexpected break higher however targets the February high at
5485/94.

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