Crude Oil - Intraday - We look to Sell at 56.50 (stop at 57.00)
Although an initial rally was posted, sellers emerged and follow through momentum resulted in all the previous day's gains being overturned. Price action has posted a Outside Day and is negative for short-term sentiment. Further selling is expected to follow with the hourly and our bespoke resistance (56.50) offering incentive.
Our profit targets will be 55.00 and 54.50
Resistance: 56.50 / 57.00 / 57.65
Support: 55.00 / 54.50 / 54.00