Crude moved lower on Monday but ended the day in the middle of the daily range, unable to break through Friday's low of 46.74. Price also tested the weekly Pivot Point above at 48.13 but was not able to break above that mark. As long as crude trades below that Pivot Point, it indicateds that price wants to keep moving lower.
The Heikin-Ashi chart showed a slowing of the downward movement with an inside candle today. However, the trend is still solidly red.
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The Heikin-Ashi chart showed a slowing of the downward movement with an inside candle today. However, the trend is still solidly red.
If you like this post, please click the Like button, tell your friends, and re-Tweet!
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
