Market Analysis of Crude Oil on Wednesday 5 July 2023

2023-07-05 10:10Source:BtcDana

Crude Oil (WTI)‎ (Q3)‎ Intraday: the bias remains bullish.

 

Pivot:

70.50

 

Our preference:

Long positions above 70.50 with targets at 71.35 & 71.75 in extension.

 

Alternative scenario:

Below 70.50 look for further downside with 70.10 & 69.70 as targets.

 

Comment:

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

Analyst Views Chart

More