Market Analysis of Crude Oil on Friday 8 December 2023

2023-12-08 10:13Source:BtcDana

Crude Oil (WTI)‎ (F4)‎ Intraday: key resistance at 70.40.

 

Pivot:

70.40

 

Our preference:

Short positions below 70.40 with targets at 68.80 & 68.00 in extension.

 

Alternative scenario:

Above 70.40 look for further upside with 71.40 & 72.00 as targets.

 

Comment:

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

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