marts321

WTI bearish trend line break

TVC:USOIL   CFDs on WTI Crude Oil
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WTI likely to continue south after closing today below the bullish trend line . In line with broader commodity sell off, it looks like disinflation is occurring right now, bearish for CAD AUD and NZD. Although NZD has been given a boost by yesterday's GDT beat, AUD and CAD are looking bearish , especially against safe havens CHF and JPY. See my short ideas on AUDCHF and AUDJPY for more details.
Comment: Also note the formation of a bearish double top, best seen from weekly. This implies WTI to drop to a potential target of $30.