SP sitting below the 45DMMA. Generally a SP below 50 dma = bear market 50dma to 200 dma = bear market rally above 200dma = new bull market.
Oel is yet to decide which category it is in. The lates PF has breached the 1st warning line. This point often brings about a decision in relation to the direction the SP is to go. It is currently creating resistance. All the gaps have been closed in the last pull back which may also prove to be a higher low
