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FILE PHOTO - A pump jack used to help lift crude oil from a well in South Texas’ Eagle Ford Shale formation stands idle in Dewitt County, Texas, U.S. on January 13, 2016. REUTERS/Anna Driver/File Photo

WTI (CL) looking for a retracement to 57.8x USD/barrel in the coming time

Some technical points of view for CL

  • A peak at 62.56 USD/barrel was made in 2015 for WTI during its down-move.
  • Almost at the same level has WTI been recently  traded at its peak at 62.18 USD/barrel.
  • A slight rejection at 62.1x USD/barrel has been occurring in the last trading session.
  • A retracement  to 57.8x USD/barrel is expected to reach

Trading idea:

Short WTI next week with a 5 cents stoploss above the recent peak at 62.18, take profit area around 57.8x-58.00. Take your look at the depicted chart below for more info:

 

Trade well!

Makkaba team

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