Short

WTI OIL Channel Down extended selling to 72.50.

Perfect execution of our plan last Monday for WTI Oil (USOIL) as the price initially rebounded to the 4H MA50 (blue trend-line), got rejected and hit our 74.00 target:

WTI OIL Filling the downside gap but short-term rebound.

That is the top of the Pivot Zone that started back in mid-December. We are now expecting a (near) test of the 1D MA50 (red trend-line) as a Resistance to see if we'll get the rejection for bearish continuation as it happened on April 25. Our short-term target in this case is 72.50, the bottom of the Pivot Zone.

All this is part of course to our long-term trading plan:

WTI OIL on a triple Resistance test! Get ready for a big move.

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