contractionary monitory policy on one hand and full storage of European countries to cover the winter put pressure on energy commodities like oil, Natgas and etc..
from technical point of view we are in bullish corrective move after massive impulsive Daily bearish move which took out the Daily low. Price on the way down formed measuring gap which also got filled by price corrective move.
Now there are 2 key areas above current price which can bring selling pressure and cause topping formation but if price can close above the first arrow in 4H timeframe or higher then we expect price to goes higher to test the high.
from technical point of view we are in bullish corrective move after massive impulsive Daily bearish move which took out the Daily low. Price on the way down formed measuring gap which also got filled by price corrective move.
Now there are 2 key areas above current price which can bring selling pressure and cause topping formation but if price can close above the first arrow in 4H timeframe or higher then we expect price to goes higher to test the high.