Yesterday I posted a Daily chart of Crude Oil to show you why I am bearish on Crude. Today let’s zoom in to 2 hour chart to see more details.

We can see that 64.80 – 63.60 is a strong pivotal zone that stopped a number of large swings in the past. I would expect crude to come back down to the upper trend line to retest it from above. After that pullback it may push again to a  higher high. But my long term outlook is bearish.

Only fro $19.99 a month you can get regular updates of micro charts (45 and 15 min ) for Crude oil and Natural Gas.

The rate will be raised on 1 June 2019.