The forthcoming trading week should be less exciting than this week, as the range math for many markets, many symbols of which may be opening near weekly lows, will likely facilitate sideways pricing more so than trending trades. That said, there may be some carryover trending character in the early part of the week before sideways pivot math and ranges that markets may need to digest set in place.
Of the nine markets I follow, the S&P 500, gold, crude oil, the Aussie dollar and bitcoin are setting up for sideways or rangebound behavior or pricing conditions for this coming week. Some are still bearish in technical indicators this Friday, similar to last Friday except from higher prices this time.
On Tuesday, crude oil hit a fresh 2018 high of $64.89 per barrel, but then reversed and declined very quickly, erasing most of Friday increase. What encouraged oil bears to act and how did this decline affect the short-term picture?