This is just a brief update on Crude Oil. The WTI crude prices are currently trading near 90 USD a barrel. Crude oil is forming a very bearish reversal pattern. The following is the current crude oil chart
I expect that crude will find support at the current levels (85 -90) and it will bounce back to form the right shoulder of this pattern. A break down from there will take crude to lower levels of 60 -65 USD. Following is the expected chart of Crude oil
I expect that crude will find support at the current levels (85 -90) and it will bounce back to form the right shoulder of this pattern. A break down from there will take crude to lower levels of 60 -65 USD. Following is the expected chart of Crude oil
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