The Crude market is showing weakness in all time frames. If you were using Hawkeye, your positions would be extremely profitable. So let’s go and do our volume analysis using our Hawkeye tools.
Crude Monthly Chart
As you can see, price was rejected by the Hawkeye Zones, and where I have placed the magenta arrow shows Hawkeye Volume indicating selling for the last two months. Great signs of crude oil weakness are evident.
Crude Weekly Chart
Crude Daily Chart
All time frames are short. The weekly bottom of Zone at 38.50 must hold or the market will be in serious danger of free fall. These are all great signs of crude oil weakness.
We demonstrate this and many other methods in our live demonstration room held every Wednesday, and this is open to everyone. Click this link for more information or to join us in class.
[The magenta arrows are for illustration only and do not form part of the software]