In the chart of Crude Oil, the price of which is directly related to BRENT and WTI crude oil, we see a decreasing volume of trading along with a price increase. Earlier growth impulses were characterized by strong breaks in a constant or increasing volume, and there is clearly no desire to pull the price up further.
In the image I showed the volume signal we just have. An earlier halt in growth and investors’ indecision shows that something may start to happen. Number one in the picture shows the price decrease and 4 trading sessions where the volume increases with each passing day and the price decreases. And number two where we are at the moment, i.e. an upward correction. I am considering the current increase as a correction as the volume is getting smaller and the last high where resistance has arisen has remained intact.
What are we waiting for now? The price decrease along with the increased trading volume, which will prove that investors are still willing to drop the price. Let’s hope that this is the beginning of a new trend, not even because of the profit-making on the stock market, but because of refueling at the gas station, which is getting more and more expensive every week.