US Oil to retreat again later this week. Price has traded within range for a few months now, and will likely continue a little longer before breaking downward. It's a consolidation period before there's not left to prop the price up. The inventory report this week, or more news on Iran's contribution to supply will eventually cause the break. The downward run will revert if OPEC decides to cut production during their June meeting.
RSI is hitting resistance, so is MACD.
RSI is hitting resistance, so is MACD.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.