WTI Short Play: Riding the Sideways Drift Down

Market Overview & Technicals

Alright, team, taking a look at WTI this morning, and it's been a bit of a tricky one lately, just stuck in that sideways chop. We're currently sitting around 72.3696, practically flat on the day with a -0.18% change. The daily range has been pretty tight, from 72.1741 to 72.5652. From a technical angle, we're seeing some clear resistance forming just above us at 72.5652, and then 73.00. Given the current price action, it just seems to be struggling to push higher. Charts don't lie, and they're telling me resistance is holding strong.

The Short Opportunity

My plan here is an intraday short. I'm looking for an entry around 72.43, banking on a slight retest of that resistance zone before it gets rejected again. The immediate resistance at 72.5652 has been tough to crack, and my stop loss is set just above that at 72.7