OIL: Have We Seen a Bottom in the Oil Markets Yet?

Our YouTube video illustrates some recent technical movements in the Oil markets and questions whether or not we have seen a Bottom after recent selling pressure.


In the following Brent Crude Daily chart, we see a couple of retracement extension ranges and observe that we likely have more room to move lower.

In the following WTI Daily chart, we see one retracement extension range was exhausted last week and we see another has not been exhausted yet.

We cannot rule out a technical move to the $84 or $81 levels in Brent or a move to the $76 area in WTI.

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