#cl_f

Who would have thought that the U.S. would lead in crude production a few years ago? Yet WTI is trading at levels of 3 years ago? We get these type of declines, not out of the ordinary.... however it doesn't mean that energy stocks can't got up. Matter of fact there currently is a divergence in the XLE/WTI. Will Crude test channel support and rally? check out links below... https://www.ogj.com/articles/2018/11/eia-forecasts-higher-us-crude-oil-production-lower-prices.html

Crude Oil – 14.02.2018.

Daily Sentiment: Bearish.

Weekly Sentiment: Bullish.

Trend Strength: Moderate

First Target: 54.67 (Support zone)

While OIL holds inside this channel we must be ready for further weakness towards second support zone which is around 50.50 zone.

Currently there are two potential bearish scenarios.

First, OIL stays below Pivot point and falls from here.

Second, OIL breaks above Pivot point and hits…