Oil 0.77% price has falled sharply the past two weeks amid a global sell-off in risk oriented assets, aka -2.52% stocks & . Now price could be heading to the final of the trend. In which, this current trend has been respected by price so far since the start of 2018. Nevertheless, look closely to for a potential recovery in the stock market for kick start a reversal.
Exhibit 1: IG Client US Crude Oil Positioning
Exhibit 2: XM Client US Crude Oil Positioning
Exhibit 3: IG Client Sentiment
Bearish Breakout: Price breaks the current trend, look for consolidation below 64.00.