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Oil Chart Analysis: WTI Drop To $35/bbl

WTI crude oil has been holding around $40/bbl for the past couple weeks after it topped out at $42/bbl. Based on the technical oil chart analysis, a big fall is coming to $35/bbl or lower. There is a classic inside bar/bear flag formation that signals a swift flush on WTI crude. The drop will likely occur before July 15th. In fact, it likely will begin its drop by early next week. The oil analysis is clear, bear flag and a cycle time count coming to a head should have investors and commodity traders shorting oil here.

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Oil Chart Analysis