WTI Crude Oil retested 108.90 resistance, before retreating slightly, holding below this resistance in addition to the descending resistance for the consolidation phase keeps the sideways bias intact. Accordingly, we expect price to re-attempt to the downside today.

Support: 108.20, 107.35, 106.90, 106.50, 105.90
Resistance: 108.90, 109.70, 110.65, 111.00, 111.70

Recommendation Short below 108.90, targets at 108.00 and 107.35. Stop loss above 109.75

Credit (ICN.com)

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