WTI slides as weak Chinese economic data raise concerns over demand. The bulls’ struggle to keep higher lows indicates that sentiment remains downbeat. A short-lived rebound to 95.00 which sits on the 20-day moving average is another sign that the bears have firm control of the direction. A fall below 87.50 would invalidate the bounce and attract more selling. 82.00 near a seven-month lows would be the next target. As the RSI recovers from oversold territory, 92.00 is the resistance and sellers may continue to fade rebounds.
