WTI Crude crashed through good support at 8370/60 to keep the market under pressure & in a 4 month bear trend. We quickly hit our target of
WTI Crude November contract Daily Forecast - 15 October 2014WTI Crude crashed through good support at 8370/60 to keep the market under pressure & in a 4 month bear trend. We quickly hit our target of 8210/00 & continued lower to 8132. Bear remain fully in control with immediate support at 8135/25. A break below 8105 keeps the market under pressure today to target 8080/70 then 8040/35 & 7970/65.
Any recovery meets resistance at 8340/50 for a selling opportunity with stops above 8390. On a break higher look for the next selling opportunity at 8440/50, with stops above 8485.
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