WTI Crude outlook negative as we drift back towards the May low for the July contract at 4418/13. A stated last week, longs are very risky, if you decide to try I would suggest a stop below the May low on the continuation chart at 4380/76. A break lower is an obvious sell signal targeting 4355 and 4310/05 and perhaps as far as the November low at 4230/20 before the end of June.
Holding important support at 4418/13 for a second time re-targets 4480/90 and with a small double bottom we would perhaps reach as far as strong resistance at 4530/40 today. Watch for a high for the day. However Shorts need stops above 4565. If we continue higher look for a selling opportunity at 4600/10, with stops above 4650.