An Ominous Chart for Crude Oil (WTI Spot Price)?

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WTI appears to be having problems in terms of both price action (failure to stay above red line and possibly upper blue) on the lower portion of this chart, and relative strength (break above RSI resistance) on the upper portion of this weekly chart.

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Not Investment Advice | Important Disclaimer: 

The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers  for junkbondrecycling.com in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher has no position in crude oil at the time this article was written. This position may change depending on future price action.

Base Chart Provided Courtesy of StockCharts.com.  Analysis and Annotation by JunkBond Recycling.com (all rights reserved)