WTI Crude Oil Short
We are now retesting the broken uptrend line from last August. Bulls have rallied significantly in the last week and a surprise build in inventory this past Wednesday pushed Crude futures even higher. However, we are now at a major resistance and moreover, the Daily 20EMA at $67.16 should subdue any advances. With OPEC meeting next week and the Saudis/Russians looking to increase output, there is no where for this to go but down.
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Nice breakdown.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.