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Crude Oil did not behave as expected. I assumed a strong reaction to the data that turned out to be weak. The increase in inventories did not move the price so much that we could speak of a reversal or rebound in the price. When you see the chart, you can see that investors are being held.
Currently, a descending triangle is forming so I can guess that this is a price range where large funds and major players collect orders at an average price. Not everyone knows, but you cannot simply buy or sell something in the market. Having large funds that move the price of a stock on the stock exchange, purchases and sales must be carried out with a strictly defined plan so that the price is always favorable. In this case, I think that the formation of a triangle that is forming indicates just that. So we are waiting for the breakout and then we will be able to think about further actions.
