Brent Crude and WTI Oil Markets Find Technical Bids

Please view our YouTube video about today's technical trading activity in Brent Crude and WTI Oil markets.

In Brent Crude, last week's pullback to the US$ 95.89 level followed by the subsequent move higher to the 97.81 level provided a perfect entry level today at the 61.8% retracement of that range.  The chart below illustrates this and we can clearly see that 96.62 was just above the Daily Low.

In WTI, the intramonth low of US$ 89.68 followed by the subsequent move higher to the 94.10 level provided a perfect entry level today at the 38.2% retracement of that range.  The chart below illustrates this and we can clearly see that 92.41 was just above the Daily Low.

Even when the markets appear to be boring, there's technical money to be made.

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