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Is Crude Oil Nearing Recovery Rally Exhaustion?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Nearby Oil has traversed its Feb-Mar bullish channel again-- to the upside off of Tuesday’s pullback low at $35.96 into $41.00-$42.00 area-- the upper-channel boundary zone. Let's notice that this new high is unconfirmed by my hourly momentum gauge, which is a warning signal that this week's near-vertical up-move is nearing exhaustion, ahead of another bout of weakness.

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