Crude Oil Locks into Sideways Trend
CRUDE OIL LOCKED INTO FAMILIAR SIDEWAYS PATTERN
Crude Oil pricing trends have taken a pause.
We’re now experiencing a round-robin Buy/Sell scenario within a well-defined range matching the one before the last major price decline.
Sideways trends of choppy price movements are actually the ‘norm’ and not the exception.
Fully 80% or more of price action can consist of such price oscillations.
These become the classic Buy/Sell Zones of the professionals who will Sell the top of the price zones (shown in green on the chart) and Buy the bottoms of the zones to exit or enter the trades again.
It’s expected that the decline that followed this sideways pattern before, will happen again in the future. Until that signal is given though, the sideways trend remains intact. – George