In-between the major range that has been running for months we may well be seeing a medium term market top (which many have been calling for with inflation fears and Chinese regulators clamping down) in the making... Are we seeing a crude megaphone pattern forming?
The J200 has been quite lackluster for a while now, it is still rangebound between +/-59000 and +/-63000. 62000 has been capping gains quite aggressively and is a very important level. It remains a sit and wait type of market for now, this coming week or so may well give it some direction.
