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Can Anything Stop Oil Prices Falling From Here?

By Satendra SinghCommoditiesMay 16, 2018 11:08AM ET
www.investing.com/analysis/can-anything-stop-oil-prices-from-falling-from-here-200316640
Can Anything Stop Oil Prices Falling From Here?
By Satendra Singh   |  May 16, 2018 11:08AM ET
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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
Daily Crude Oil

4-Hour Crude Oil
4-Hour Crude Oil

1-Hour Crude Oil
1-Hour Crude Oil

15-Minute Crude Oil
15-Minute Crude Oil

5-Minute Crude Oil
5-Minute Crude Oil

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Can Anything Stop Oil Prices Falling From Here?
 
Can Anything Stop Oil Prices Falling From Here?

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Dunn Ng
Dunn Ng May 17, 2018 12:49AM ET
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You are always pessimist analist
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Ryan Oswald
Ryan Oswald May 16, 2018 2:01PM ET
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Yup fundamentals
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Disclaimer: This analysis is purely based on the technical observations. I do not have any position in Natural Gas. One can create position in Natural Gas at his/her own risk.
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