Friday, November 2, 2018

Crude Lowdown

How low is lower? Thus far the sideways action over the last 24 hr.s does not look encouraging for the bulls. The good news is it's looking a tad oversold very short term.
Hourly
click to enlarge
Note the pos divergence on the RSI.
As I type this it dropped lower.
Daily

Note the Fib support at around the 60 point. So considering how oversold it is here perhaps a little consolidation prior to testing that 60? Jack be nimble.

For longer term view see the previous posts.

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