USOIL Is This Manipulation? Looking at the Daily, a continued bullish thrust is when the most recent bullish candle closes past the high of the previous candle.
Also circled in orange is the second case where the tall bullish candlecandle closed a hair's breadth under the high of the previous bearish candle. The first case can be seen with the two candles below that's circled in orange.
Is this manipulation? Very possible. It would be to keep you wondering if the bulls can reach the Swing High of 64.83. Based on the last two candles, there would be a struggle to do that. We may either see consolidation or a top of the rally reversal pattern form.
USOIL The Hourly that is in Bullish (directional) Market Bias had two recent developments nearing the end of the New York session: a Double Inside Day to let us know a BIG move is coming AND a thin S&R Zone formed.
On the chart, you can see that the bears are dropping below the S&R Zone. A continued move to the downside would be a retrace to around 62.96, then back up again because the Hourly is still in Bullish Market Bias.
We'll see if that new S&R Zone will prevent any bullish moves to the upside.
WTICOUSD huge build on US oil unofficial inventories wiping out last weeks draw, but also a large draw of inventories for Distillate, Gasoline and Cushing. I'll be travelling when the figures come out. So do be cautious tomorrow. I would say that we are reaching premium zones, ripe for the odd sell off. Traditionally driving season increases demand. Let's see if that is true now. oilprice.com/Latest-Energy-News/World-News/Oil-Bulls-Balk-At-Surprise-Crude-Oil-Inventory-Build.html
USOIL It's an imperfect Double Inside Day that showed up on the Hourly. A BIG move is coming, either during the remainder of the New York session or in the After Hours.
USOIL Is This Manipulation?
