USOIL On the Hourly, it is in Bearish (directional) Market Bias. A giant, Short Formed M-shaped pattern had printed out earlier that was drawn out with lines.
Within the pattern's 4th leg, a Popgun showed up from high volatility. That means complex consolidation is coming up that makes three major swings that move like a See-Saw. The sequence of swing goes like this: Down-Up-Down.
The Down swing had already begun with the Up swing getting started.
Also, the candles are creating a tall Inside Day for a market pause with no clear direction. Price action can consolidate within this tall pattern until a breakout from either the pattern's high at 68.61 or low at 67.40 (shown as two orange lines).
OILUSD so it’s going down since opex is halting production increase form sept since they believe the demand will be weaker that offcourse means the price will decrease
USOIL On the Hourly, it is in Bearish (directional) Market Bias. A giant, Short Formed M-shaped pattern had printed out earlier that was drawn out with lines.
