Confused much?
Oil of course is reacting to world trends. I don't need to cover the emotional roller coaster which is being presented in the world to you - you know what I am talking about.
Of course, this behavior becomes confusion in the charts.
Daily:
Trend: Bull
Consolidation: None
Single Renko Bullish box on 20-Jun
Both RSI and BSI haven't caught up yet to the positive trend yet.
Price Projection on the daily is for 65.15
Weekly:
Trend: VERY WEAK BEAR (Near the 21 and 55 MA but still below)
Consolidation: YES!!!!!!!
There is a four bar consolidation in place. 59.67(R)-50.63(S)
The last price projections before this week were very negative with: 45 and 36.04 as targets.
The weekly shows NO entry signs at this time (plenty on the daily however).
Of course, this behavior becomes confusion in the charts.
Daily:
Trend: Bull
Consolidation: None
Single Renko Bullish box on 20-Jun
Both RSI and BSI haven't caught up yet to the positive trend yet.
Price Projection on the daily is for 65.15
Weekly:
Trend: VERY WEAK BEAR (Near the 21 and 55 MA but still below)
Consolidation: YES!!!!!!!
There is a four bar consolidation in place. 59.67(R)-50.63(S)
The last price projections before this week were very negative with: 45 and 36.04 as targets.
The weekly shows NO entry signs at this time (plenty on the daily however).
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