Engulfing BEARISH candle, possible bear continuation
We closed today's session with an engulfing bearish candle and therefore we should expect further drop from here, always with caution due to current global geopolitics.
Today's API data has shown another drop on stockpiles but a pretty significant increase in Gasoline. Let's wait for a more reliable data from EIA to confirm market moves.
We could be developing an inverted HS pattern with bullish outcome. So far we may be the right shoulder to 65 area or so.
Cheers
Today's API data has shown another drop on stockpiles but a pretty significant increase in Gasoline. Let's wait for a more reliable data from EIA to confirm market moves.
We could be developing an inverted HS pattern with bullish outcome. So far we may be the right shoulder to 65 area or so.
Cheers
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