WTI crude weekly-expect reversal tgt 49-52$

WTI weekly technical analysis 16 to 20 may 2016 WTI weekly technical analysis 16 to 20 may 2016 WTI crude oil this week closed with gain. we saw some profit booking and lower levels up to 43$ but prices are showing strong resilience to selling which will trigger buying as well as short covering in next week.   For next week, my WTI crude oil outlook is bullish and expecting tgts around 49 to 52$. On downside 43$ and 40.5$ are support zones as well as fresh long entry points.   On monthly chart, above 48$, WTI next tgt comes around 60$. Look like crude will create upside panics for markets from here on!!

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Pramod Baviskar

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