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O'Hare: Shorting WTI March 16

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With WTI trading around USD 29.40 but with a negative outlook and a global glut in supply, Steve O'Hare is setting shorts in WTI March 16.   
The recent rally followed a 30% sell off in January. Saudi and Iraqi output reached record highs last month  
A Bearish Engulfing Outside Candle has formed and the hourly chart is below the Ichimoku Cloud.  
Setting shorts at current levels and rally to USD 30.50
Stop: USD 33.00
Targets: USD 27.50 & 22.50