Crude Oil Topping Again?

 

Crude Oil Top?

brentcrudeWe’re at another of those rally top areas where the bullish news for Oil starts coming back into view again.

However, this appears to be largely a distraction and counter-move by the media to disguise inside SELLING and positioning for the next leg down in Crude Oil Prices.

The red-circled area on the chart shows the topping price area where we are at present.

But, short-term price movements have already given a weakening signal that are the prelude to another price slide downwards.

$37.50 should be the first objective, A break in price below this price level will indicate a strong slide in price to come, coming down with $34.50 next.

$23 Crude Oil can be reached should these other levels fail to hold going forward. George