May take 2 weeks to resolve.
Range held this morning.
RSI divergence should have sent price higher out of range. The fact it didn't and an inverted hammer was the top on the 1hr chart shows underlying weakness.
Range held this morning.
RSI divergence should have sent price higher out of range. The fact it didn't and an inverted hammer was the top on the 1hr chart shows underlying weakness.
Trade active:
The falling wedge is now invalidated and we may be entering a channel. Given past year of oil trading I am holding the short to see if the we will recover to the top of the channel or if it breaks down entirely.
Regardless, the price action confirms that Feb 11 rally is over.
Regardless, the price action confirms that Feb 11 rally is over.
