Light Crude Oil Futures Update: Mild Uptrend Continues
Here is what I see.....
The positives:
1. Upward (mild) price action.
2. Green chop zone (below chart) indicates upward momentum.
3. Two buy fractals.
The negatives for you to beware of:
1. RSI/ Stochastic (top) over-bought.
2. 5/34 (top middle indicator) has declining histogram. this is a negative divergence.
3. Phase energy has two red bars, both lower.
4. The CHOP indicator is in the shaded area, indicating no strength in TREND.
Yesterday I received criticism for forecasting. I will not do this today.
What would I do?
1. Wait for a buy fractal confirmation for an up move.
2. Wait for a sell Fractal for a down move.
3. Depending on the Fractal signal - act on this and "MOVE WHEN THE MARKET MOVES".
Good luck to you. Don.
The positives:
1. Upward (mild) price action.
2. Green chop zone (below chart) indicates upward momentum.
3. Two buy fractals.
The negatives for you to beware of:
1. RSI/ Stochastic (top) over-bought.
2. 5/34 (top middle indicator) has declining histogram. this is a negative divergence.
3. Phase energy has two red bars, both lower.
4. The CHOP indicator is in the shaded area, indicating no strength in TREND.
Yesterday I received criticism for forecasting. I will not do this today.
What would I do?
1. Wait for a buy fractal confirmation for an up move.
2. Wait for a sell Fractal for a down move.
3. Depending on the Fractal signal - act on this and "MOVE WHEN THE MARKET MOVES".
Good luck to you. Don.