The energy commodity fell after failing to break the resistance at 4.653 on our 38.2% Fibonacci retracement, the price still trades above the short and long-term moving average, suggesting that the upwards trend might continue in the short term.
The Bollinger bands are wide but they are starting to close up at the edges, we can still expect high volatility as they are still opened, the price is trading inside the Ichimoku cloud which can be seen as market uncertainty.
The relative strength index is at 54% which will allow the price to make a new breakout attempt at the 4.653 level, the price might find support at 4.216 if the pullback continues.
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