WTI US OIL (Today's Outlook)

USOIL FORECAST

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on WTI CRUDE OIL.
As long as you are above the support located at 76.44, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 92.16 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 98.12 USD as an objective. Crossing it would then enable buyers to target 121.36 USD. If the support of 98.12 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation, and trading against the trend would then perhaps be more risky.

Pivot line: 76.44
resistance line: 81.82 & 98.12 & 107.60
Support Line: 69.65 & 65.92 & 53.50