Consolidation of oil at 41.50-42.00 is in progress. According to ADX readings that reside on a flat level, we can assume that this tendency will also remain in place today.
We note local borders of the sideways channel, which is confined by the Bollinger bands (41.08-42.34). Extremely low activity of ADX indicator almost expressly suggests potentially limited volatility.
We note local levels of resistance 42.08 (upper Bollinger band) and support at the lower Bollinger band (41.46). Thus the most likely forecast today is flat in these boundaries.
Main scenario: Flat in the 41.46-42.08 range.
Alternative scenario: Wider range of flat 41.08-42.34.
Trading to both sides from the borders of one of the mentioned ranges.