Time to decide
Updated
Oil has been sideways for quite a while and unable to make a new high. Since Opec agreement doesn't seem to have any real effect, it seems that it is now ready for a new bear trend. Note how this two volume indicators show there's been more downward interest even before last daily high. Targets along the pitchfork channel.
Thanks for your comments.
Thanks for your comments.
Note
Idea still valid and signal is now active.Note
Notice the importance of pitchfork's channels.Note
Behaviour of the volume indicators is still the same.Note
One month later and still no decision. I think the next trending phase will be very strong and I still think it will be downwards.Trade closed: target reached
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