25 JUN 2018
Our earlier bearish outlook has faded with the recent bounce. Nevertheless, too many fragile elements remain visible to change the outlook or focus on the buy side. Upside potential seems limited, but the intraday chart is relatively strong.
A typical case of “to weak to buy and to strong to short”. Put simply, we have no idea. Better let the market figure things out before taking action.
- Near term trend: positive
- Long term trend: neutral
- Outlook/expectations: no idea
- Strategy: avoid
- Support: 65.05 / 60.05 / 59.10 / 57.50 / 53.50-
- Resistance: 70.45 / 72.60
- Outlook neutralized: n/a
Weekly chart WTI Crude Oil (NYMEX)