Are we in V Reversal?

All week oil after returning the mid $60's WTI has done nothing - much like the Nasdaq I wrote about. There is overhead resistance.

Today we have a little pop but are we in the midst of a V Reversal - with a lot of people thinking we are breaking out to $70 for WTI.

Right now shorts are being squeezed (if there are any).

There is a VPOC at $63.59 which is exactly at 61.8% retracement.

Monthly VWAP is at the 38% retracement.

We'll know soon if we're on way to $70 or back to $63

Time will tell but the RSI is looking weak.