Near Term Trend: Neutral
As of 8/10/18 close: $67.75
UPDATE: Last week, I suggested adding to crude shorts on a bounce to $70.46 with stops above $70.55 and with a target of $58.
Crude oil appears now to have peaked in its most recent bounce and is headed lower. Crudes downside target now appears to me to be $62.10 - $62.25.
I would be shorting from Fridays close to up to $68 with stops on a close above $68 and with a target for covering shorts at $62.25. I would only be considering longs down at $62.25 with stops on a close below $62 and with an upside target of $73.