WTI has participated in a 15 year bump and run formation signaling a reversal. The cycle started in 1999 and reversed in 2H15. Since the breakdown, the market has formed 2 attempts to maintain the 15 year lead-in. Such attempts have failed and the most recent failure will be confirmed by the end of week in an evening star. Recent attempts have produced a minor BARR formation labeled BARR 1 Year this will eventually reverse to the upside, but lower price will be needed to pierce the supply line.
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