In the immediate short term WTI holds technically and fundamentally weak and is off further this morning down to the mid $47's. In the longer term that range of $55 to $45 does look strong for the foreseeable future? So possibly only a couple of dollars in it to the downside currently, before pausing at the $45 resistance area? If bearishness longer term does take hold a significant break of the $45 looks key number to watch?
Komen
spotmouse
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Doesn't allow for short. What Do you think? will this happen today?
StephenHoad
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@spotmouse, not sure but Im keeping a close eye on the price action. Normally market are buyers on a Friday afternnon / evening which could slow the bearish momentum down - so would need a bit of noise to take it there. I'll use the renko or kagi (taking out the time) to get me there if it does move further south.