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 | 6.7379 | 6.7421 | 6.7788 | 6.7292 |
| USOil | 93.347 | 93.381 | 93.778 | 92.492 |
| UKOil | 104.469 | 104.509 | 107.055 | 103.084 |
| NGAS | 3.1106 | 3.1226 | 3.2444 | 3.0984 |
| WHEATF | 703.34 | 704.44 | 707.38 | 683.07 |
| XAUUSD | 4261.34 | 4261.64 | 4285.06 | 4257.47 |
| XAGUSD | 63.606 | 63.931 | 64.46 | 63.519 |