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WTI bears take control at the start of the week, bucking the trend

14 days ago   |   By FXCM

WTI drifts back to the dynamic trendline support on the 4-hour time frame.
The monthly chart is reaching into resistance and a correction could be on the cards.
The price of oil continues to consolidate the daily bullish trend and on Monday, the price has melted to the 4-hour dynamic support. At the time of writing, WTI is down 0.26% into the close on Wall Street. The rice fell from a high of $69.97 to a low of $68.95.
Chinese data showed crude oil imports fell to a year's low in May and likely played into the fragility of oil prices following a fun to two-year highs the prior work.
Crude...
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