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WTI Crude Oil is Going Down! Sell!

Short
CFDs on WTI Crude Oil (TVC:USOIL)  
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TVC:USOIL   CFDs on WTI Crude Oil
Elliott Wave Candlestick Analysis Supply and Demand futures Oil crude Crude Oil oilforecast oilsignals oilsignal wtisignals
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elliottwaves candlestick supplyanddemand futures oil crude crudeoil oilforecast oilsignals oilsignal wtisignals
snapshot

Here is our technical outlook for WTI Crude Oil.

Time Frame: Daily
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a significant resistance area 73.8.

The above-mentioned technicals clearly indicate the dominance of sellers on the market.
I recommend shorting the instrument, aiming at 66.3 level.

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