WTI crude oil’s decline today and break of 41.13 support should confirm short term topping at 43.50. That came after rejection by 55 week EMA (now at 43.78). Bearish divergence condition is also seen in daily MACD. Considering these two factors, the current corrective fall should be relatively sizeable. Sustained trading below 55 day EMA (now at 40.45) should affirm this view. WTI should have a test on 34.46 support before completing the pull back.
