Overall view of XTIUSD or Crude Oil - Update of July 15th's week

Pushed by institutional inventories after a plunge from the yearly high, crude oil slightly broke upside the previous supply level @60.000. The energy security has been calmly ranging for two days while the long-institutions and short-retailer holding volumes are increasing. In another hand the daily traded volume is decreasing : We shall still experience a continuation of the upside movement.

Possible Target: @64.000 (+3400 pips).

Advice: Stay bullish and buy any low point while we don't break downside @58.000 level.

Trade geschlossen: Stop wurde erreicht:

Oil has broken down the old supply level, confirmed its bearish behaviour and is leading to the demand level @56.000