Price is diverging with momentum. A pop is due on data.
Wants lower. Commercials (smart money) are selling too. CL getting OS.
Seasonality pointing towards a bounce. Commercial positioning starting to turn bullish. Suport nearby could used as an entry point if reached with stop on break of it.
Big consolidation then breakout, resistance not close
Bearish seasonality and COT showing big commercial selling. Price crossing below SMA20 is a confirmation of weakness.
Short on bounce
If it goes into resistance, it is unlikely it can break it with the coming rate hikes.
Momentum / price bullish divergence on support area. 5y seasonal window suggesting a rise too. Good risk/reward entry as the stop can be tight.
Parliement vote probably make Brexit fully priced in.
Commercials and momentum hinting a run up
Resistance, weaknening of momentum, bearish seasonality
Loss of upside momentum and bearish seasonal window.
5 Y seasonal cycle suggesting a runup soon
It is following the 5 Y seasonal cycle.
If it keeps tracking the 5Y seasonality should go t o support
A pop to trendline resistance is a short with tight stop, target the horizontal resistance
Bear flag, heading to 1.06 support area
Valid short if and onlky if we break 1.072