Crude oil (WTI) Short to Medium Term Analysis

Aug 1, 2016

• The WTI Crude touched a Low of $40.55 last week after the release of inventory data (Last Wednesday) showing over Supply.
  

• The recent release of Chinese PMI data showing signs of Chinese economy slowing down further, which puts additional pressure on Oil going forward.
  

Read More Here :wsj.com/articles/china-jul-official-manufacturing-pmi-49-9-vs-50-1-market-expectation-1470014653

• Buyers Buy $41.10-$41.30 for targets of $44-$45 and a Stop below $40.40.
  

• Sellers Wait for the Bounce to complete and Short around $46 levels and stops around $48 targeting $35.
  

I hope i have not disappointed anyone because i have something for everyone ;) But i am more biased towards the short side.

Happy Trading People
Cheers!!

USOIL