The Nymex crude oil futures market bulls are in trouble and it appears a near-term market top is in place. A price uptrend on the daily bar chart has been soundly negated and the bears have technical momentum on their side, to suggest more price pressure is coming. The escalation in the U.S.-China trade dispute is a bearish element for crude, as it suggests slower global economic growth, which translates into less demand for oil. Stay tuned!