Crude Oil Looks to Close at 6-Year Lows, OVX Slow to Rise

NYMEX:CL1!   Light Crude Oil Futures
350 2 6
Despite hitting multi-year lows on crude prices, the CBOE's volatility index doesn't seem to be too concerned about the implications. Perhaps we are reverting to this indicators more fundamental nature - activity level - rather than a semi-proxy for direction.
thx for is my view :-)

Nearly all views i read on this platform are bullish @ that level - many think about a double bottom as a trend reversal.
But dipping the former Pivot LOW is not yet enough to signal a trend reversal. Perhaps the exspected Rebound (dead cat bounce) is just good for scalping. (My maximal target for a possible Rebound is the 38,2 fibo (38,85-61,55) - but i don`t exspect a Rebound from this Niveau, i exspect a Rebound when crude will reach ist s falling green Support line @ 38.75
And yes, the RSI is oversold but still without any buying Signal, and yes, we have seen a selloff without any Rebound since the high @ 57.7$ But all WMAs are directed downwards - without any sign for a trendchange.

The useage of many WMAs or EMAs is the so called "rainbow-concept"
An important concept of this trading approach is the so called "spin" ! This refers to the trend reversal in itself or the time in which the Rainbow rotates . Due to the construction of the Rainbow as a "multi- cross" system does not generate this a single signal, such as the breakthrough to a new high / low but needs time to unfold again. With this concept you have a trend-following system, but also the Advantage that you can catch sustainable trend reversals (with a time lag - but you can minimize that lag, because of the use of short timeframes composed with Long time Frames)
Or perhaps the not too fearful longs will get stopped as oil falls sharply next.
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