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MACRO VIEW: WTI OIL IS STILL ON LONG TERM DOWNTREND RISK

MACRO VIEW: WTI OIL IS STILL ON LONG TERM DOWNTREND RISK

Crude Oil WTI NYMEX:CL1!

WTI Oil recently broke down into the 10-year downtrend by falling below 1st standard deviation from 10-year mean (120 month), and confirmed it by holding the test of the level (now at 56.5)

As long as price holds below the level among expanding volatility (marked by 3.2 standard deviations from the mean), risk of lower prices persists.