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O’Hare: No support for WTI

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Steve O’Hare from First 4 Trading is looking to short sell September WTI crude oil after Monday’s break lower. With US producers continuing to increase output and a slowdown in China, WTI is finding little support and could go even lower.

O’Hare is looking to sell short at current levels and on a pull-back to previous support, turned resistance near USD 47.00. His targets are USD 42 and USD 40 with a stop on the trade above USD 50.