Spot WTI Crude Technical Analysis October 24, 2018

Crude oil suffered heavy losses in the previous day and closed near the day low. The sudden bearish breakout turns the trend into bearish. Fortunately, no lower low printed on weekly basis, the price needs to move below $64.40 to print a lower low.

Meanwhile, crude oil might bounce to $67.09 – $67.91 before resume its downward movement.

Support: $65.78, $65.00, $64.40

Resistance: $70.10, $71.42, $74.40

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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