Range Formation - Crude Oil
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Range breakouts can be on either side.
But it is possible to predict the side , Observations below.
1. Highs & lows: The price made a lower high compared to previous highs, as marked.
2. Few days up move is nullified by lesser days down move, marked by Red circles.
3. Indecisive bars followed up by big directional bar, yesterday's bar
4. Previous trend to the consolidation is down.
But it is possible to predict the side , Observations below.
1. Highs & lows: The price made a lower high compared to previous highs, as marked.
2. Few days up move is nullified by lesser days down move, marked by Red circles.
3. Indecisive bars followed up by big directional bar, yesterday's bar
4. Previous trend to the consolidation is down.
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