Market Analysis of Crude Oil on Tuesday 03 January 2023

2023-01-03 10:12Source:BtcDana

Crude Oil (WTI)‎ (G3)‎ Intraday: bullish bias above 79.50.

 

Pivot:

79.50

 

Our preference:

Long positions above 79.50 with targets at 81.20 & 82.00 in extension.

 

Alternative scenario:

Below 79.50 look for further downside with 78.70 & 78.00 as targets.

 

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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