WTI Oil Stuck - What's To Come?

Thursday May 11th Plan

Wednesday Recap:

Crude Oil had an intraday high of 73.83 and a low of 71.76. As expected this tight $2.07 range made today a consolidation day. A shift to sell side momentum can now easily be achieved the more price fails to get into the 74.00 level.

Today saw the most bearish volume since Thursday’s bounce.

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Trade Plan!

71.80 showed quite the intraday bounce today - watch out for this.

• Strong buying above 71.80, then long to the next resistances:

- 72.70 , 73.25 , 74.00 , 75.00

• Strong selling below 73.25, I will short to the next supports:

- 72.70 , 71.60 , 70.90 , 69.75

• Daily pivot is 72.77.

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Thanks for making it this far, I hope to write to you again tomorrow.

Voila Trading