It’s time to prepare for long positions that we will soon be able to contain. The volume situation begins to be as it has been writing for you for a year. The pattern is unchanged and we can use it in a very nice way, and we will try to catch the best moment when the market confirms a rebound.
The image below shows exactly the falling RPM. Note that despite the price increase, the volume does not increase, so there are no offers that would confirm the movements. Sellers cannot make a profit because the price would rise too much, and buyers cannot buy oil contracts because without offers on the other hand, the price would also jump too much.
What plan? The same as always. So we are waiting for an increase in volume. If you do not have access to the real volume, look at the volatility that prevails on the instrument. When you see stronger movements, it will probably mean that the volume is starting to increase (the indicators on the chart are helpful). We have two options. Rebound volume increase. Weaker signal for me, but that will mean profit taking and buyers entry. And a drop in price on an increased volume that will be fully concentrated and then rebound, and this is something I would like to see, then the plan will be 100% realized.