Crude Oil CLN2020 Retrace Prediction

Short

Crude Oil Futures (Jul 2020) (NYMEX:CLN2020)

Updated

NYMEX:CLN2020 Crude Oil Futures (Jul 2020)

trendanalysis indicator oil wto

Strong upper resistance leading to retrace down to $27-$29 area.

Comment:

Bear Flag forming on 4H chart as well.
SL @ 34.21

Comment:

Continuation downwards with TP of 27.88

Be mindful of 31.35 which is a very strong resistance point.

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