Market Analysis of Crude Oil on Wednesday 26 July 2023

2023-07-26 09:11Source:BtcDana

Crude Oil (WTI)‎ (U3)‎ Intraday: bullish bias above 78.80.

 

Pivot:

78.80

 

Our preference:

Long positions above 78.80 with targets at 79.90 & 80.50 in extension.

 

Alternative scenario:

Below 78.80 look for further downside with 78.30 & 77.80 as targets.

 

Comment:

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

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