Crude does not look sustainable...
Yes, still bullish up trending, but honestly, look at the technicals and it’s like crazy...
Cannot keep this weak rally up for too much longer.
MACD is so bearishly divergent and recent rally is weak
Th ebottom panel is the net non-commercial interest and it has been steadily waning as price edge higher.
I thought it was going to give way earlier but everything is extending into September.
Now I still expect Crude to roll over in September...
Cannot keep this weak rally up for too much longer.
MACD is so bearishly divergent and recent rally is weak
Th ebottom panel is the net non-commercial interest and it has been steadily waning as price edge higher.
I thought it was going to give way earlier but everything is extending into September.
Now I still expect Crude to roll over in September...
Breakdown!!!