WTICOUSD A Further Sell Down?
Since late April this year, we have seen a sell down of almost 20% on oil. Yesterday, 10 June, we have seen that sellers are still in control to push the price much lower as buyers failed to break the key psychological resistance of 54.00, thus showcasing a sign for weakness for more downside. Hence, target price is first drawn to 50.00 and then towards 45.00, if buyers are still unable to gain control, where potential short covering might take place again.
