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Crude oil is close to strong resistance near 76.90 that ideally will be able to cap the upside for a larger corrective decline towards at least 57.67 and possibly even closer to 46.83, vut for now the uptrend since March 2020 remains intact, but very stretched.
Short-term, we will need a break below minor support at 72.32 to indicate that a top is in place and the larger corrective decline is in motion.
Trading recommendation:
If long take profit and revers your position near 76.90 and keep your stop tight at 72.25
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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