CRUDE OIL confirmed a weak closing last night after plunging toward the 200 days line at 97,30 that we expect to test in the coming hours.
The indicators of the daily chart are now negative and also those of the s/t ones are below the line suggesting further weakness. We have however also oversold condition and the decline already tested the 200 4h line at 97,61. For this reason we bought back our position for now waiting for a decent rebound to sell again.
In fact bullish divergences in the hourly chart confirm a negative tone.
We bought it back at 97,68!
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FUTURE TREND RESEARCH