Market Analysis of Crude Oil on Monday 19 June 2023

2023-06-19 10:39Source:BtcDana

Crude Oil (WTI)‎ (Q3)‎ Intraday: bullish bias above 70.70.

 

Pivot:

70.70

 

Our preference:

Long positions above 70.70 with targets at 72.00 & 72.70 in extension.

 

Alternative scenario:

Below 70.70 look for further downside with 70.20 & 69.70 as targets.

 

Comment:

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

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