Trending potential of the market declines that is driving to mixed movements. As we see, this tendency remains in place. At the same time a bullish inside bar was formed from the dynamic support 63.80 (middle Bollinger band) that will facilitate recovery of oil in direction 66.84.
Local upward phase of the market also allows us to go long reckoning on reaching the upper Bollinger band (66.69-66.84), from where, in turn, a new downward reversal is expected.
Intraday pressure of the ADX dropped substantially that may limit volatility by the Bollinger bands 64.77-65.80 (black trajectory). As an alternative we should keep in mind an opportunity of short-term growth to 66.69 (red arrow).
Main scenario: Flat in the 64.77-65.80 range.
Alternative scenario: Growth to 66.69 followed by a downward reversal.
Short-term trades inside the 64.77-65.80 channel.