West Texas Oil forum
We're also seeing the early signs of U.S. and China de-coupling economically.
also
China pivots from the US to Canada for more oil amid trade war.
Idea: USOIL:Today's latest trading s…
Did you think the bulls will keep rising?
Take a look at the numbered candles:
- #1 - The Doji within the bullish rally showed up to let you know that there's indecision and it's an exhausted market. Also, a reversal pattern is coming.
- #2 - The Shooting Star is a top reversal candle and pointing out that this is an Overbought condition. A Shooting Star is also a non-trending candle for having a real body (that creates the open and close, not including the wicks) that is less than half the range of the whole candle.
- #3 - Another non-trending candle as a Spinning Top that filled the upper wick of the previous Shooting Star. It revealed a "fist fight" between the bulls and bears with a winner to show up soon.
- #4 - The 4th non-trending candle with a small real body and longer wick to show rising bullish pressure. This candle closed past the close of the Shooting Star (that is a reversal signal), so the bulls and their bullish thrust may be renewed, but with difficulty.
And, the final candle still forming is nearing the Swing High of 62.02. If it gets breached, then the market bias will flip from Bearish to Bullish. But if not, then back down again with a Double Top to appear.
