Market Analysis of Crude Oil on Monday 23 October 2023

Crude Oil (WTI)‎ (Z3)‎ Intraday: under pressure.

Pivot:

89.00

Our preference:

Short positions below 89.00 with targets at 87.10 & 86.40 in extension.

Alternative scenario:

Above 89.00 look for further upside with 89.85 & 90.50 as targets.

Comment:

The RSI is bearish and calls for further decline.