Oil beginning a new rally?
Oil seems to be entering a new bull moment; technical reasons to claim that are:
- Green trendline (bound to feb 2016 low, not shown) being respected;
-Divergence on RSI and Stoch RSI, shown by white trendlines;
-Divergence on MACDH, shown by white curve line;
- 61.8% of retracement from the most recent rally being respected twice;
As the last friday (09/24) was bearish, i would like to see some green candles before a long entry. A break of the green trendline would be a bearish sign, indicating the rally wont happen anytime soon;
- Green trendline (bound to feb 2016 low, not shown) being respected;
-Divergence on RSI and Stoch RSI, shown by white trendlines;
-Divergence on MACDH, shown by white curve line;
- 61.8% of retracement from the most recent rally being respected twice;
As the last friday (09/24) was bearish, i would like to see some green candles before a long entry. A break of the green trendline would be a bearish sign, indicating the rally wont happen anytime soon;
Catatan
Would be buying already; Im not trading oil directly thoughCatatan
Still respecting the green TLCatatan
opec news started the rallyTrading ditutup: target tercapai
Well, as i said, not trading this idea, but if i were, would close position here. This doesnt mean the rally wont keep going, in fact i believe it will, but would be safer close it here. I may add a continuation idea of this later.Catatan
closed here 
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.