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Crude Oil (WTI) Looks bearish. We have confirmation on the daily chart with RSI being below 70, We have a double-top pattern on 4H and fundamentals are becoming bearish as Russia might leave OPEC treaty soon.
SL set at 66.66, targets are marked with dotted lines.
(This is not a trading advise)
Price of Crude Oil (WTI) has gone too far without an important retracement. As speculations and news are no longer a factor. I expect 62.5 to be a major resistance so we are entering a short position once we confirm RSI below 70 on the daily chart aiming for a 58.5 level and perhaps lower.
I think we have reached a crucial point, let's stay close on this move.
Oil moved upwards all week long so it must breathe a little bit. As it was because of speculation, we calculate it will go down to at least to 54.
We set some supports as reference, price may reach down to 50 but strength of this movement should be measured. We are placing long positions on short term and short positions on long term (our LOSSOL move...