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.