Bearish Momentum IntensifiesCrude oil futures are showing increased bearish momentum today after clear rejection at yesterday's Value Area High (VAH) of 58.86. Order flow data indicates significant weakening of buyer strength and increasing seller pressure, particularly noted by negative delta shifts in recent trading sessions.
Rejection at 58.86 Resistance: Sellers have successfully defended this crucial resistance, signaling potential bearish continuation.
Potential Downside Targets for Short Sellers:
Second Target:57.19 – Key intraday pivot, further selling could accelerate upon breaking this level.
Fourth Target:56.69 – Lower boundary of recent trading range, major target for shorts if bearish momentum persists.
Monitor price behavior closely around these outlined targets. Confirmation of continued bearish order flow, such as sustained negative delta and increasing sell volume, would validate the potential for deeper moves lower. Conversely, a sharp reversal or strong buying absorption at any of these levels would signal caution for short positions.
Trade at your own risk and ensure disciplined risk management practices.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
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