WTI: Catching the Bearish Rebound for an Intraday Short Play

Hey everyone, Yui here from Osaka. Hope you're all having a solid trading week. Let's dive into WTI today. Crude has definitely been in a bearish vibe lately, and the numbers confirm it, currently sitting around 71.82 with a nearly 1% drop over the last 24 hours. Charts don't lie, right?

The Setup: Waiting for the Bounce

Even with the bearish trend, I'm not one to chase. The current price is 71.82, but I'm looking for a clean retest of resistance before I jump in. Specifically, I'm eyeing an entry around 72.15. This level is just below the 72.5 resistance and well within yesterday's high of 72.8393, making it a sweet spot for a potential reversal down. My stop loss is set at 73.78, giving us some breathing room above the significant 73 resistance level. This gives us a strong technical conviction for this intraday short.

Why I'm Looking South

Beyond