OPEC Failed to impress and the prices reflect
Friday the price chart generated an engulfing bearish bar.
Monday the prices closed between Fridays prices suggesting either consolidation/turning.
Tuesday it broke through the floor of Fridays price, crossed the 21 MA and 55 MA and closed under the 34 HMA in "cover the long" territory.
Also, with the prices below the two trend lines - it suggests that the attitude has gone bearish.
A second close below the 21 & 55 MA will give a strong indication of what the attitude truly is.
HOWEVER.
Price projection was triggered on the bullish RSI indicator projecting a fall in prices between 54.11 - 53.89
Monday the prices closed between Fridays prices suggesting either consolidation/turning.
Tuesday it broke through the floor of Fridays price, crossed the 21 MA and 55 MA and closed under the 34 HMA in "cover the long" territory.
Also, with the prices below the two trend lines - it suggests that the attitude has gone bearish.
A second close below the 21 & 55 MA will give a strong indication of what the attitude truly is.
HOWEVER.
Price projection was triggered on the bullish RSI indicator projecting a fall in prices between 54.11 - 53.89