Can Anything Stop Oil Prices Falling From Here?
Satendra Singh | May 16, 2018 11:08AM ET
Since submission of my last analysis I think that crude oil futures continue to find tough resistance at $71.89 despite repeated attempt by oil bulls. The bulls’ futile attempts are enough to attract more bears at current levels. Futile attempts to cross tough resistance at $71.89 has resulted in the formation of an exhaustive candle in the 1-hour chart on May 15 and may result in a steep downward move any time during the last few trading session of the week. I expect the WTI to be ready to move down by week's end amid growing volatility.
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