We are now in the trend transition term. The bull is still strong, but bear is growing. The MACD goes bearish cross but price is still above SMA(12). I am still waiting confirmation for going bearish.
I am a fan of your charts - I would really like to see an updated CL chart from you, please. I believe we will see a trend reversal there as well.
Thanks!
zhipengcfel
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Thanks. I am glad that you like it. Oil is consolidation at the moment. It will become clear after the OPEC meeting. I will post the new chart next week.
smitheric1970
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I look forward to it! We are currently sitting firmly on the original 2014 upper resistance trend line. Unless OPEC throws a surprise I believe we will be finishing our bearish trend soon - new lows this year.
Thanks!