{video} Crude oil reached an initial top target zone yesterday before selling off to end the day in a weak position Wednesday ended with a shooting star candlestick pattern that points to a likely pullback from that high. Wednesday’s high of 79.46 was an exact test of resistance at the long-term downtrend line. That line begins from the 2022 peak. A failed bullish breakout of the line occurred in April, leading to a decisive decline below the line. This tells us to watch that line going forward as the market has recognized it again. {chart} 20-Day Support Holds: Nevertheless, Thursday’s low of 77.82 tested support ... (full story)