Pivot: 105.90
Our preference: SHORT positions below 105.9 with 104.1 103.2 as next targets.
Alternative scenario: The upside penetration of 105.9 will call for a rebound towards 106.85 107.5.
Comment: Crude Oil prices remain within a descending channel.
Trend: ST Consolidation; MT Bullish
Key levels Comment
107.5* Intraday resistance
106.85** Intraday resistance
105.9*** Intraday pivot point
104.67 Last
104.1** Intraday support
103.2** Intraday support
102** Intraday support
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