The roll over has begun. The stochs are bottomed out for the most part and money flow is low. The big drop in the current candle, I believe is just the beginning. Oil has been up all week and has pierced the upper limit on the channel, but hasn't busted out. I believe we are going to see a drop all the way back into the $53s. If it goes past that, I expect it will bottom out around $51. Trade carefully and always use SL. Have a great weekend.
Note
Correction: The stochs haven't bottomed out yet, still a little more room to go. Money flow has hit bottom. Will it bounce or remain low? Only time will tell.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.