Action today was not good for bull case.
Large Negative Divergence still in play…
MACD continues to head south, if breaches zero bearish…
The majority of articles by professional analysts lean bullish, so the contrarian in me says bearish…
Most were expecting a move to $70 to complete this move, so this would catch the majority off guard…Strong resistance is at $61.40
Some analysts said crude prices could weaken further as the Greek situation will not likely be resolved until the passing of a referendum.
“This may be the time when we break lower and into the $50s for Brent as we have a full week of uncertainty,” said Bjarne Schieldrop, head of commodity analysis at SEB in Oslo.
I continue to watch WTIC; but do not hold a position. UVXY was the trade for me today…
Take the path of least resistance…

wtic