Flat remains a prevailing tendency on oil market. Trading range still doesn't exceed the scope of the upper Bollinger bands (40.08-42.30).
Locally an explicit triangle consolidation between 40.66-4085 (a merger of “slow” trend line and lower Bollinger band) and resistance at 41.79-42.10 (upper Bollinger band) is in progress.
There is enough room within this triangle therefore this tendency most likely will remain in place.
On hourly chart we can note local dynamic levels of support/resistance: 40.90/41.16. Flat mode of Bollinger bands and low potential of ADX suggest the walls of this channel are suitable for short-term trading to both sides.
Flat in the 40.90-41.46 range.
Trades to both sides in the 40.90-41.46 channel.