Though WTI has been in a bullish move lately, in my opinion it is overdone and according to my fundamental analysis, seasonality weakness in oil is not over yet, so for the short term I am still fundamentally bearish on Oil, but cautiously.
Weekly open is around 64 which is around W-M3 and current MN-PP. The only thing to be done or can be done here is to sell. Buying here would not be so prudent and bulls are waiting at around 62.6 which is around W-pp. Therefore in my opinion it is safe enough to take a short trade (and hope for the best), of which I will quickly shift to breakeven once the trade is sufficiently profitably safe.
Stop Loss: 63.85
1st Target: 60.63
2nd Target: 59.67
All the best. Happy Trading.