Fresh Trading Levels – The WTI Crude Oil
Arslan Butt • 1 min read
Trader's hope you are enjoying the success of our trading signals. Yesterday, as recommended in our update WTI Crude Oil Completes 50% Retracement – Do We Have A Sell Entry Here? the oil fell right after completing retracement at $50.20 and plunged towards our next target level of $49.65 to give us a gain of more than 55 pips in the New York session
At the moment, crude oil is trading bearish as investors are waiting for the crude oil inventories which are due tomorrow in the New York session. Investors' sentiment for oil prices remains fragile due to rising U.S. production as well as the inventory levels, which are close to record high. Anyways, let me share the fresh trading levels for the WTI Crude Oil.
WTI Crude Oil – 4 Hour Chart
Crude Oil- Intraday Trading Levels
S1 48.92 R1 49.43
S2 48.77 R2 49.58
S3 48.51 R3 49.83
I'm not recommending any trades since the oil is already far away from its trading level. However, I will be sharing a fresh trading signal in the Asian session tomorrow. Stay tuned!