Market Analysis of Crude Oil on Thursday 02 February 2023

Crude Oil (WTI)‎ (H3)‎ Intraday: the downside prevails.

Pivot:

78.30

Our preference:

Short positions below 78.30 with targets at 75.70 & 74.60 in extension.

Alternative scenario:

Above 78.30 look for further upside with 79.00 & 79.70 as targets.

Comment:

The RSI is bearish and calls for further decline.