Crude Oil (WTI) (M3) Intraday: key resistance at 77.80.
Pivot:
77.80
Our preference:
Short positions below 77.80 with targets at 76.70 & 76.25 in extension.
Alternative scenario:
Above 77.80 look for further upside with 78.40 & 79.05 as targets.
Comment:
Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.