WTI Heading Down

NYMEX:CL1!   Light Crude Oil Futures
WTI Month chart - Price seems unable to penetrate the 57.00 resistance level , current month candle might also be suggesting a further down move towards 38.00 if it unable to break higher. As stated months ago, 38.00 is the level that Oil must hit to indicate it has reach bottom. Any buying prior to the price level will be a Bull Trap for novice investors if they had analyze the Month chart.


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