Below is the Crude oil Sweet Light chart. Supply is being bet with demand, and you see this with the higher volume on the short thrust. When price moves less on higher volume this is Wyckoff law of 'Effort vs Results' at play, so higher volume with poor price movement is less results for the effort by the shorts hence the longs are stepping up.
However this does NOT mean lower prices are over for crude, it does mean if we get a sell off on lower volume this would be the shorts last roll of the dice. A low volume sell off would show the market the bears have run out of juice thus allowing the bulls to accumulate with some safety. A Wyckoff trader would like to see a wider trading range proving accumulation is present. Watch and waiting!
Crude is a large part of the CRB index, crude turns or slows, so will the CRB index.
Some interesting comments in this video...about China!
Just a reminder that Wyckoff logic and readtheticker.com are not one hit wonders, this video was spot on!
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