The CRUDE OIL formed yesterday a negative outside day reversal with now 103,50 – 98,20 the levels to follow in the coming hours. A daily closing below the support of the outside day will support directly lower levels.
The indicators of the daily chart are still positive but those of the s/t ones are negative supporting further consolidation/ correction.
in the hourly chart we have even a potential S_H_S formation with the neck line at 98,17, just below the 200 hours line at 98,36!!
We favour further weakness while below 100,30 where we find the former support line!!
Stay short!
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