Oil Formed Outside Day, Friday Likely Last Day of BattleCrude Oil FuturesNYMEX_DL:CL1!ROW_PartnersWrote this before 6PM... The Setup: It is a classic trend continuation vs channel rejection BATTLE! The outside day in OIL on Friday occurred right at a multi month channel boundary. Highly likely that Friday may be the last battle before a victor! The structure is slightly BEARISH, BUT look what I found out when I dug further! --- The 1Hr chart breaks outside the CHANNEL & this action is NOT shown on the DAILY CHART! 1H = bullish 4H = bearish leaning Daily = indecision Volume = mixed Momentum = fading Trendline = defended So structurally: Bears still have a small advantage unless buyers break the outside day high!