WTI looks like is rejecting a new high, it seems like it is going down to 56.20; We are identifying that it is still inside a bearish channel but we have also a wedge so it may be breaking this channel soon to make a huge move (it can be either up or down)
We are entering a Short position but with a close follow-up since it can go up anytime.
It looks like Crude Oil is moving towards our first target at 56.20, our second target is at 54.60 since is the bottom line of the bear channel we have mentioned before.
We are still in that wedge, price was negated higher at 58.40. Be patient on these trades, we posted also a new idea suggesting we should focus on the bearish channel we have spoke recently about.