WTI remains heavy this morning albeit we have had a pause so far after perfectly hitting the 76.4% pullback level at $75.32 and bouncing slightly.
Despite this the overall picture still looks bearish and a close below this $75.32 area, if seen, should open up for a test of the recent lows and triangle base support at $72.48-$71.91.
Below there and the major support area around $65 comes into play with a break of that area sending us into a full-blown bear market that would suggest substantially lower levels.
Negative German growth overnight along with the lack of reaction to a lot of what would be considered positive indicators ( Geopolitical/ Replenishment of Strategic Petroleum reserve etc.) still seems to be the "Tell" for Oil suggesting that underlying structural weakness remains
