We Saw crude oil in Asia down after API data, Brent falls
Crude oil prices fell on Wednesday, but came off earlier lows after U.S. industry estimates showed solid builds in stockpiles last week.
Crude oil prices fell on Wednesday, but came off earlier lows after U.S. industry estimates showed solid builds in stockpiles last week.
On the New York Mercantile Exchange, WTI crude for March delivery fell 0.65% to $29.66 a barrel. Brent fell 0.38% to $32.50 a barrel.
The American Petroleum Institute said crude oil stocks rose 3.837 million barrels last week, while distillate supplies gained 400,000 barrels and gasoline stocks increased 6.5 million barrels.
So we are expecting more fall during euro and US session.
Most Likely Scenario :- Short Below @30.48 with target 29.31 to start moving in downtrend channel
Alternative:- Long above @30.48 with target 32.57 for further retracement.
Trend Bias :- today it break the uptrend channel for intraday trading
*Remember your capital at risk
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Trend Bias :- today it break the uptrend channel for intraday trading
*Remember your capital at risk
To receive daily technical analysis report with complete details directly via email please register on www.ezinvest.com
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