With NFP being released this week Friday, WTI has yet again maintained a strong supply level at 81.87, this take us back to the monthly time frame where there’s been more buying pressure and shift of sellers momentum on the weekly time frame.
If 79.50 holds as a solid resistance, we could see price fall towards 78.10-77.43 range where I would anticipate a buying opportunity if respected.
With price closing below previous support at 79.50, if support is respected back above 79.50 level, I would anticipate buys towards 81.87-82.35 range.
If 79.50 holds as a solid resistance, we could see price fall towards 78.10-77.43 range where I would anticipate a buying opportunity if respected.
With price closing below previous support at 79.50, if support is respected back above 79.50 level, I would anticipate buys towards 81.87-82.35 range.