WTI New Falling

The weekly chart of WTI gives a trend reversal signal based on a double bearish divergence. The price bounced from 75.00 level and now it's at SMA20 and the uptrend line. RSI confirmed the price reversal and MACD is ready to support a downward movement. In spite of DMI is bullish, ADX line falls and it gives a signal that bulls are not so strong now. We have a possible sell opportunity which can be realized on the weekly and lower timeframes. If the price breaks the uptrend line, we should be ready to see the falling to the zone between SMA100 and 55.00 support level. This zone will be good for reversal and short term upward movement at least. As alternative variant, the price will be able to break this support zone and confirm the trend reversal. We'll be able to get the same structure like it was before. When the price and indicators formed a bullish divergence, the price broke the downtrend line and reached SMA100. The breakout above SMA100 confirmed the trend reversal. After that we could see a new uptrend. This time we also have the same market movements but in other direction.

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