Crude Oil WTI Futures – RSI Edge Analysis
Crude Oil seems to have made a short term top. The first signs of topping were noticed at 65.80 A daily RSI range shift is noticed. A move below 60 will be further bearish and oil may test 57 levels.
On the hourly charts the weakness is eminent, the futures are unable to maintain in the bullish zone and the prices have taken resistance at important pivot point and drifted down.
Crude Oil being weak on both the time frame is set to correct. Fresh longs are not suggested.