Updata Morning Call – WTI & NatGas
WTI – Short and medium term is bearish, look for a pattern breakout and confirmation of targets – Today Neutral
NatGas – The short term is bearish, look for break of recent lows. Activated downside targets to 3.285 – Today Bearish
WTI found support at the recent lows just under $85 and is bearish in the short term with the price meeting resistance at the base of the 60 minute cloud. As price resistance and support converge a triangle pattern is forming so watch for the break out. We are more likely to see a continuation of the down move into the pattern, but wait for the break. The very short term one minute point and figure (0.1×3) chart is bearish and there are conflicting un-activated targets to the upside and downside. A move below $85.1 will confirm the target of 84. Please watch the Updata TA Newswire for live updates.