WTI Crude beat the 7180/89 high to top at 7230

WTI CrudeJune contract

WTI Crude beat the 7180/89 high to top at 7230. Strong resistance at the 500 week moving average at 7300/7310 is looming just above & is causing some bulls to take profit as we struggle in severely overbought conditions.

Holding below 7200 risks a slide to 7135/25 & good support at 7100/7090. A weekly close below here would be a small sell signal for the start of next week. Next target 7075 then trend line support at 7040/30.


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