Withe much a strong momentum, price is expected to test the topside of the bullish channel
. This gives opportunity for a swing trade to the downside. The fundamentals also converge for a move to the downside, as US inventory recently topped new highs.
Scenario One ( Bearish
Reversal): Price tests the topside of the bullish channel
, where price rejects a bearish
Scenario Two ( Bullish
Breakout): Price breaks key resistance level
and manages to consolidate above 80.00.