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Can Anything Stop Oil Prices Falling From Here?

Published 05/16/2018, 11:08 AM
Updated 07/09/2023, 06:31 AM

Since submission of my last analysis I think that crude oil futures continue to find tough resistance at $71.89 despite repeated attempt by oil bulls. The bulls’ futile attempts are enough to attract more bears at current levels. Futile attempts to cross tough resistance at $71.89 has resulted in the formation of an exhaustive candle in the 1-hour chart on May 15 and may result in a steep downward move any time during the last few trading session of the week. I expect the WTI to be ready to move down by week's end amid growing volatility.

Daily Crude Oil

4-Hour Crude Oil

1-Hour Crude Oil

15-Minute Crude Oil

5-Minute Crude Oil

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Latest comments

You are always pessimist analist
Yup fundamentals
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