OIL - Still in the flag
We are still in the flag. Friday's breakout seems to be a false breakout from the flag.
Today we just bounced from the 300 EMA. Oil was under pressure of the strong dollar today and yesterday also...
I wouldn't rule out a tag of the green trendline and the 50 EMA at 45.50$ tomorrow. But if you look at today's and yesterday's volume you can see we are falling on low volume. When volume comes in the flag will break to the upside.
Today we just bounced from the 300 EMA. Oil was under pressure of the strong dollar today and yesterday also...
I wouldn't rule out a tag of the green trendline and the 50 EMA at 45.50$ tomorrow. But if you look at today's and yesterday's volume you can see we are falling on low volume. When volume comes in the flag will break to the upside.
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