Crude entering a potential sell zone...
Arrows on the chart highlight former turning points in the market.
After falling into a zone of previous congestion, price looks like it may break out higher.
However, with conditions entering overbought territory on the RSI and a weak reversal pattern on the ADX-DMI, I am looking to sell if the shorting conditions are met.
The current move up looks strong, so conservative actions will be required on this trade
After falling into a zone of previous congestion, price looks like it may break out higher.
However, with conditions entering overbought territory on the RSI and a weak reversal pattern on the ADX-DMI, I am looking to sell if the shorting conditions are met.
The current move up looks strong, so conservative actions will be required on this trade