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West Texas Intermediate (WTI) Spot (Crude Oil) |
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West Texas Intermediate (WTI) Spot (Crude Oil) |
By Safat Memon
June 6, 2010 |
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WTI registered a modest increase, however its formation is a bearish divergence as despite
closing in the green the Stochastic Oscillator continues to decline and generate a sell signal.
Moreover the 30-DMA has cut the 200-DMA from above which is bearish. The RSI too has started
to show weakness. It is suggested to sell between $ 73.52 and $ 74.28 with stops above $ 75.04.
The first support is at $ 72.22 and the second support is at $ 71.42.
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