WTI bull is gone... every rebound is a time to short

18 Jun 2018

WTI recent trend implied 2018 bull market is gone: i) WTI fell 4 consecutive weeks, the first time since Aug 2017; ii) fell below 100MA, the second time in the last 4 weeks; iii) fell below medium-term uptrend for two consecutive weeks; iv) WTI closed at the lowest, second time in three weeks. Technical indicators, like RSI and MACD, indicate WTI likely to be further down to over-sold area. After severe sell down, rebound of WTI is very weak and it should imply WTI near-term bear market was set up. Every rebound is a good time to short.