Crude Oil nearing the June lows
WTI crude oil hasn’t fallen for seven consecutive weeks since 2015 but unless there’s a miracle $2 rally in the next few hours, the losing streak is set to continue.
In the short-term, the June low of $63.59 is the level to watch. It’s a good bet we’ll get some kind of bounce ahead of that support but even after seven weeks of selling, crude isn’t oversold so the risks are to the downside.
