WTI has sold off heavily at the start of the week just as it appeared to be gathering some bullish momentum. It appears, however, that Friday’s late retracement was in fact a sign that the bears are once again regaining control and further losses could lie ahead. Of course, today’s candle is not yet done and we cannot write off the possibility of a late rally into the close. Assuming we don’t get that though, we could be left with an evening star formation at a previously highlighted resistance with it having failed to close above the 50 fib level – 6 May highs to 24 August lows. The first real test of how bearish ... (full story)