Oil Daily Analysis - Coin flip time!
My longer timeframe bias is short, but looking at this daily chart, it's a total coin flip.
ADX, D+ and D- are all below 20 which basicaly screams "no clue what to do, stay out". Often markets will range when that happens, at least until momentum picks up. So while I favor shorts at the moment, I'm not exactly expecting longer sustained moves in either direction.
Any short breakouts will try to aim for the previous low around 45, and a push higher could end up somewhere between 70 and 80.
Someone hand oil a roadmap and compass please, it's currently lost! Kick in the ass might help too.
ADX, D+ and D- are all below 20 which basicaly screams "no clue what to do, stay out". Often markets will range when that happens, at least until momentum picks up. So while I favor shorts at the moment, I'm not exactly expecting longer sustained moves in either direction.
Any short breakouts will try to aim for the previous low around 45, and a push higher could end up somewhere between 70 and 80.
Someone hand oil a roadmap and compass please, it's currently lost! Kick in the ass might help too.
