OIL BREAKOUT BULLISH - DIVERGENCE CONTINUES
Hi all,
A few things I've noted here. Over the last few weeks we have seen a bullish divergence form on both RSI and MACD. This is supported by price action where a resistance has formed around $88. I've also noted that there is a bearish resistance that needs to be broken to form the next bull run for oil. We could see a potential breakout if the momentum continues to form HHHL. A break below $88 and new lows on RSI and MACD would be bearish.
Always keen to hear other people's views if they have counter opinions :)
Cheers,
Sandy
A few things I've noted here. Over the last few weeks we have seen a bullish divergence form on both RSI and MACD. This is supported by price action where a resistance has formed around $88. I've also noted that there is a bearish resistance that needs to be broken to form the next bull run for oil. We could see a potential breakout if the momentum continues to form HHHL. A break below $88 and new lows on RSI and MACD would be bearish.
Always keen to hear other people's views if they have counter opinions :)
Cheers,
Sandy
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.