Market Analysis of Crude Oil on Wednesday 16 April 2025

2025-04-16 10:04Source:BtcDana

Crude Oil (WTI)‎ (M5)‎ Intraday: key resistance at 61.55.

 

Pivot:

61.55

 

Our preference:

Short positions below 61.55 with targets at 60.15 & 59.00 in extension.

 

Alternative scenario:

Above 61.55 look for further upside with 62.50 & 63.50 as targets.

 

Comment:

As long as the resistance at 61.55 is not surpassed, the risk of the break below 60.15 remains high.

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