March put in another weak session today, following on from yesterday's large collapse. The market attempted to back and fill the gap left on yesterday's open, but this attempt was futile. Currently we can spot a collapsing triangle with March needing either to breach the old contract low or else this trend line.
Moving averages are both negative, with the 9 day EMA at 53.l4 and the 50 day SMA at 54.12. Momentum is sliding, currently at 37.90 on the RSI indicator.
marketing@alchempro.com
