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WTI Crude Oil May Contract - Forecast for 03/22 by Daytradeideas.com

WTI Crude May is mostly going sideways as we were held by 93.47/54 resistance & tumbled to support at 91.82/76 where we predicted a low for the day. The exact low was 91.84. Resistance today at 93.00 with a push higher to allow another test of 93.47/54 resistance & we could struggle here again. However above here offers a selling opportunity at 93.95/94.05 with a stop needed above 94.45 for 94.89. If we hold below 93.00 look for support at 92.36/23 & then 91.82/76 where we could expect a low for today once again. However with the outlook weakening we could break lower in the days to come for a te4st for good support at 91.40/28. Longs here need a stop below 91.00 for 90.89/83 & possibly 90.52.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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