WTI Oil is trading inside a Channel Down since late July, completing 6 months of a structured downtrend. Every technical decline has been following a similar pattern, dropping -22% and -25% respectively. Right now the price is on the last counter trend rise before the final decline starts.
Trading Plan: 1. Sell on the spot as every MA100 1D rejection has been bearish.
Targets: 1. 65.00 (marginally above a measured -22% decline).
Tips: 1. The price is a strong sell every time the RSI 1D approaches the 60.00 level.
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