WTI crude oil might be done with its rally, as the commodity is forming a head and shoulders pattern on its 4-hour chart. Price is testing the neckline around $105 per barrel, and a break below this could confirm a downtrend. If that happens, crude oil could tumble by the same height as the chart formation or roughly $30. Technical indicators, however, are looking mixed. The 100 SMA is above the 200 SMA to suggest that the path of least resistance is to the upside or that support is more likely to hold than to break. In that case, crude oil might still be able to recover to the recent highs and beyond. However, price ... (full story)