WTI OIL prices broke yesterday short-term support confluence, in which a horizontal zone of $ 64.70 meets the accelerated trend line running from the low from December 14, 2017.
The currently broken area is a resistance in case of pull back and its re-test. The next goal for the declines seems to be another short-term support zone on 63.10.
The next horizontal level of defense is located close to 61.85. In addition, a trend line running from August 2017 may be also important.
In the case of trading decisions on this instrument, it is worth paying attention to the data from the EIA regarding stocks of black gold. Their publication is scheduled for 16.30. Forecasts predict another week of inventories decline, this time at the level of 1 million barrels. However, unfulfilled expectations may contribute to the deepening of short-term slippages of WTI oil prices.