WTI Short Play: Riding the Bear Wave Down

Current Vibes on Crude

Alright, mates, let's talk WTI. Crude Oil has been looking a bit rough lately, and the charts are really showing that bearish momentum. We're currently sitting around 71.8793, down about 0.86% over the last 24 hours. The day range has been between 70.9483 and 72.8103, which tells us there's been some decent movement, but the general direction is definitely leaning south. Global demand concerns and a stronger USD are still hanging heavy, providing that fundamental backdrop for the bears.

The Technical Breakdown

Looking at the price action, we've seen resistance around 72.5 and even up to 72.8103 holding firm. My plan here is to look for a short entry around 72.18. This gives us a good spot to potentially catch a retest of a broken support, now acting as resistance, or just a sweet spot before another leg down. Our stop loss is placed strategically at 73.67, well above the key resistance at 73. This setup feels solid because if we break above 73, the whole bearish picture could be changing anyway. Charts don't lie, and right now, they're pointing down.

The Playbook: Entry, SL, TP

So, the trade is a short, targeting an intraday move. Entry at **72.