We have a bearish trend.

On the background of increasing energy prices and the successful negotiations between the United States and Canada, the Canadian dollar continues to strengthen.

Given the strength in the world arena, the oil price will remain high. Given the recent provocations from Iran, the US may withdraw from the nuclear deal and again strengthen sanctions against Iran, which would entail a new round of price increases.

Considering our schedule, we are seeing a strong downward momentum. The formation of the first wave is not yet complete, although the RSI and Stochastic technical indicators are already pointing to a purchase. In this case, we will look for points to enter short positions, after confirming our indicators continue the downward movement.