WTI Crude Daily Forecast July 25th 2019

Intermediate

WTI Crude quickly collapsed back below 5695/5705 signalling losses to 5660/55, first support at 5630/20 then 5580/70 & 5540/30. We bottomed exactly here but further losses target 5500 before support at 5470/60. A break below 5440 is a sell signal targeting 5405/00, 5380/70, 5350/40 & perhaps as far as 5310/00. Gains are likely to be limited with minor resistance at 5620/30 & strong resistance at 5700/5715. I hope we do not see another spike to 5765 before we reverse!. A break higher targets 5780 with resistance at 5815/25.

Jason Sen

Editor

Jason Sen began his trading career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successful...continued

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