Technical Outlook for Crude Oil(WTI)

Crude oil prices fell further in Asia on Tuesday as prospects for cutbacks in output by major producers appeared to have dimmed.

On Tuesday, industry group the American Petroleum Institute will release its estimates of U.S. crude and refined product stocks last week. The U.S. Department of Energy will release more closely-watched figures on the same on Wednesday.

Most Likely Scenario :- Long above @30.62 with target 35.10 for further extension

Alternative:- Short below @30.62 with target 29.20 to test latest low for further retracement.

Trend Bias :- Uptrend

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