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Light Crude Oil Update: Five Bearish Signs

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
69 0 5
Update Of Chart Published Two Hours Ago: The Lady Or The Tiger?
There are five signs the price movement will go lower:

1. RSI/ Stochastic (top indicator) has rolled over and is heading lower;
2. MACD 5/34 (middle indicator) has rolled over and is heading lower, bearish cross, and histogram of same is below zero line;
3. Phase energy (lower indicator) has three successive red bars heading lower;
4. Price is trading below the Ichimoku Cloud thick red conversion (usually a sell signal);
5. Lower indicator under chart is CHOP ZONE and this has turned negative.

In my opinion, a sell Fractal will most likely follow. Don.


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