Crude oil has slumped on lack of world demand. If this slump is a continuation of the down trend and confirming cycle action then up swings are to be sold.
Let price fall further, watch for a weak bounce then review your trade options. Price falling from upper resistance is not a confirmation of a well supported demand story for higher prices, it is a story that the shorts have built up a position to take prices down.
Below is a chart showing off readtheticker.com Bartels cycle tools. Bartels is used to find the dominant cycle in a time series.
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