Let’s note an increase of the upper Bollinger band by approximately one dollar in 24 hours. Now this dynamic resistance resides at 67.00-67.31 still keeping the reversal formation Double top. ADX didn’t reach the area of trending activity so far, therefore a break is unlikely today.
Local bullish pressure is on a high level. Short positions on oil remain in priority on the back of price high renewal.
Consolidation range of the market is limited by the upper Bollinger bands (66.10-67.11). We can expect the next momentum after the price goes beyond this range (red arrow).
Main scenario: Growth in direction 67.31-67.50.
Alternative scenario: Consolidation in the 66.10-67.11 range.
Longs to 67.31-67.50.