The Crude Oil market hit the 161% Fibonacci Extension of the April highs to lows near the $40 level. We should also note we are just slightly above the 50% retracement of the 2020 highs to lows as well. Today we left a spinning top candlestick, and tomorrow if the market is lower it will be an evening star reversal formation as well. The risk is high since the RSI is divergent and overbought. Bulls are officially on notice! 

 

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