US CRUDE OIL TECHNICAL ANALYSIS SHORT TERM VIEW
15 minute chart showing calculations it is running in negative trend and stop loss is 78.50 level . It can fall below 72.48 level in short term .Intraday purpose selling is better with stop loss 75.65 level expecting intraday targets 73.75, 73.50 and 73.25 levels respectively . Strong resistance area is 76.11 to 77 level and 74.52 to 75.13 .There is irregular correction at level of 72.50 so it can fall below that level sharply .
QUICK FUNDAMENTAL LOOK
Oil prices edge lower on persistent concerns over China's demand outlook and growing expectations that OPEC and its allies will gradually increase supply starting from October.
POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.