CRUDE - the technical alignment to the UPside Part II
The daily chart shows greater details as to why a shallow retracement of sorts is expected.
The Gap occurred after the Sell Setup completed. This becomes an overextension. The overextension is now a collection of 4 dojis of indecision. This tells that it is not a Gap and Run scenario, and leaves the Gap and close to be more likely.
The technical indicators MACD and VolDiv are also tapering off and need to retrace to launch further into the longer term picture.
The gap is denoted by the red box.
The expected bounce zone by the green box inside the red box.
Noted that the daily trend is still a bear trend as the TDST Resistance of 80.94 was not exceeded by the Sell Setup closing 31 March. This is again another point suggesting a retracement... before a new Sell Setup can be started to break above 80.94.
Oh... watch the orange 23-week EMA levels too!
Btw, for more info on these Buy/Sell Setups, you should look into Thomas DeMark indicators, especially from his original books or the more recent condensed version by Jason Perl.
The Gap occurred after the Sell Setup completed. This becomes an overextension. The overextension is now a collection of 4 dojis of indecision. This tells that it is not a Gap and Run scenario, and leaves the Gap and close to be more likely.
The technical indicators MACD and VolDiv are also tapering off and need to retrace to launch further into the longer term picture.
The gap is denoted by the red box.
The expected bounce zone by the green box inside the red box.
Noted that the daily trend is still a bear trend as the TDST Resistance of 80.94 was not exceeded by the Sell Setup closing 31 March. This is again another point suggesting a retracement... before a new Sell Setup can be started to break above 80.94.
Oh... watch the orange 23-week EMA levels too!
Btw, for more info on these Buy/Sell Setups, you should look into Thomas DeMark indicators, especially from his original books or the more recent condensed version by Jason Perl.
