Crude Looks Ready To Crumble
Satendra Singh | Jun 29, 2018 11:12AM ET
Since my last analysis of crude oil, I find that an attempt to break $75 will be the bulls' last stand. No doubt that Crude oil above $75 always pushes the global economy toward a long recessionary phase. It's clear that WTI will try to stay above $72.72, but finally a move below $72 before the weekly close will confirm the presence of bears at current levels. A weekly closing below the level of $71.77 will confirm the continuity of WTI crude's downward voyage in the coming week.
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