Crude Oil [WTI] Daily Perspective

20 Şub 2016

Overall bias is bearish on oil. From the weekly chart i have established a bearish descending wedge. would like to see how we react from this area. Do we break through this inner trendline and go higher or do we come back down and create another lower low. Personally i do think the 27 area will hold and act as a solid support. The RSI is currently portraying divergence.