This market has been dead since last Thursday and chopped around. Bearish sentiment hit extremes last week (
Looking for a bounce in Oil ... Remember buy dips not rips ...
July WTI is a bullish crab pattern off the round $90 level, the trend is clearly down but we have a lot lined up in favour of a bounce here (to sell again later) At the very least we will retest 95.43
Smart reversal at the 50fib and 1600 level could mean a retest & break of the 1526 lows next. However if risk appetite improves and we break the 1600 resistance level then 1620 is resistance and 1640 resistance completes a bearish bat harmonic pattern for a sell.
Like gold its in a pretty clear buy zone and two weekly hammers (last week also an inside bar) but something about this chart just says lower to me. The daily making a nice tight consolidation triangle for a breakout trade. If we break higher I would look for price action at $30, 31 or 32.10 to resell