Market Analysis of Crude Oil on Wednesday 23 October 2024

2024-10-23 10:00Source:BtcDana

Crude Oil (WTI)‎ (Z4)‎ Intraday: intraday support around 70.60.

Pivot:

70.60

Our preference:

Long positions above 70.60 with targets at 72.00 & 72.70 in extension.

Alternative scenario:

Below 70.60 look for further downside with 70.00 & 69.40 as targets.

Comment:

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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