Adding bearish pressure, the market just put in a 45 bar new low. RSI is in neutral territory. MACD is in bearish territory, but has not issued a signal here. MACD is in bearish territory. Further, the market just put in a 45 bar new low here.
More lows are possible here.
While this is normal following delivery of nearer term contracts, be cautious. Decreasing open interest indicates lower liquidity. The current new low is accompanied by increasing volume, suggesting further new lows are ahead. The short term market trend, based on a 5 bar moving average, is DOWN.The current new low is accompanied by increasing volume, suggesting further new lows are ahead. However, be careful to avoid selling an oversold market.