Crude Intraday Reversals Rare, Short Short

Crude Oil (WTI)FXCM

Description

⋅ Jan 4, 2016 4:00 PM

Today's intraday reversal has been a rare occurrence since early Summer 2015. The move lower has taken oil below the bearish trendline. We're seeing some consolidation in the 37ish range. Look for the next leg lower to 33.