FX:USOIL Crude Oil (WTI)
Here is my current view of crude oil . I still think there is a good chance of another pop up is this a contracting triangle that is now forming (which is often seen in 4th waves). If we first get a drop below the level labeled ".1" then I am wrong.
Oil futures turned higher on Wednesday after the U.S. Energy Information Administration reported a 3.4 million-barrel decline in crude-oil supplies for the week ended May 6. The American Petroleum Institute late Tuesday had reported a 3.45 million-barrel increase, while analysts polled S&P Global Platts expected a 300,000-barrel increase. Gasoline supplies fell by 1.2 million barrels, while distillate stockpiles were down 1.6 million barrels last week, according to the EIA. June crude CLM6, +1.84% was at $45.12 a barrel on the New York Mercantile Exchange, up 46 cents, or 1%. Prices traded lower at $44.22 before the data.