M30 US Oil market analysis: after a clean UP move, now what?
Hello.
My name is François Normandeau.
This is an ADX-BRIEFING US Oil market analysis.
On M30 (30-minute charts),
the modified MACD and modified ADX
both gave a confirmation of the most recent UP move.
We then saw a sizeable consolidation.
Even though we are trading the US Oil market
using short-term charts (M1 and S30),
our market expectation is still "downward".
On the right side, the momentum indicator (bottom panel)
is currently in the sell zone.
We will be monitoring US Oil and Brent closely,
waiting for any trading opportunity.
Wishing you a great week.
François Normandeau
Institutional Research Director
ADX-BRIEFING
My name is François Normandeau.
This is an ADX-BRIEFING US Oil market analysis.
On M30 (30-minute charts),
the modified MACD and modified ADX
both gave a confirmation of the most recent UP move.
We then saw a sizeable consolidation.
Even though we are trading the US Oil market
using short-term charts (M1 and S30),
our market expectation is still "downward".
On the right side, the momentum indicator (bottom panel)
is currently in the sell zone.
We will be monitoring US Oil and Brent closely,
waiting for any trading opportunity.
Wishing you a great week.
François Normandeau
Institutional Research Director
ADX-BRIEFING
