Bearish signs for Oil futures
The GoNoGo Trend indicator has painted an amber neutral bar on front month WTI oil futures indicating that the environment is no longer bullish but uncertain.
This comes as there continues to be bearish divergence between the price and the GoNoGo Oscillator, with price making higher highs while the oscillator makes lower highs.
To further compound this, the GoNoGo Oscillator has broken below zero into negative territory, suggesting that momentum is now bearish.
This comes as there continues to be bearish divergence between the price and the GoNoGo Oscillator, with price making higher highs while the oscillator makes lower highs.
To further compound this, the GoNoGo Oscillator has broken below zero into negative territory, suggesting that momentum is now bearish.
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