OIL: Charts Suggest Another $2-3 to Fall

Our YouTube video illustrates Oil's ongoing price depreciation and identifies possible downside price objectives and exhaustion points.

In a previous YouTube video and post, we identified the US$ 82.78 level as a downside price objective for WTI Oil like we see in the following Daily chart.

When the market reached this level this week, they took out more than $2 in Stops below.

As we can see in the Weekly chart below, WTI may have another $3 or more to depreciate.

In the Brent crude market, we can see on the Weekly chart below that we may have another $3 to move with the $81 handle looking like a possible exhaustion point.

 We anticipate major stops are lined up below these areas.


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