Every now then then there is a day like today in the markets. A day that is out of the 2 standard deviations boundary, a day when charts are going off the grid or do some other strange things that are either supposed to not happen either have very small chances to happen. Oil acted strange from the first hours of the day from certain points of view, even when not moving at all as it was around 6AM this morning it was behaving odd according to some of my charts. The odd behaviour is not always a bad thing but it is certainly a dangerous thing, dangerous because of the unexpected ahead and almost all the moves Oil made today were in the unexpected area. After falling more than it was supposed to fall (the green arrow on the chart) it raised more than it has supposed to raise (the red arrow) and those two moves were followed by a period of normality (the yellow rectangle) but that did not last long because as you can see after some news hit the wires it went off the grid. As I was saying the up trend is broken and Oil fooled around this week quite enough, meaning that a longer sustained move its expected. By the way it looks now that move is down and I would be surprised if it will not continue. The continuation could be less prominent in terms of points but it should last longer, however we can always expect the unexpected.
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