WTI's decline from late April might not be over. Last week we saw an impressive rally in oil, but price is right up in the teeth of an important zone - the $58.00 level.
I'm not one for a blind short here - I'd like to jump in with buyers or sellers that have already shown their hand. So I have to wait a little.
What I would like to see is quite simple - a big bearish candle rejecting $58.00 off the 4-, 8-, 12- hour or daily charts.
Target: $51
I'm not one for a blind short here - I'd like to jump in with buyers or sellers that have already shown their hand. So I have to wait a little.
What I would like to see is quite simple - a big bearish candle rejecting $58.00 off the 4-, 8-, 12- hour or daily charts.
Target: $51
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