Lately, Brent Crude Oil was pretty strong and it looked like even the surge of omicron cases couldn't stop it.
Though BCOUSD is still in an uptrend, a midterm pullback could happen in the next days, since there are several signs of a reversal:
Though BCOUSD is still in an uptrend, a midterm pullback could happen in the next days, since there are several signs of a reversal:
- CCI and the oscillator of the MACD are making lower highs while the BCOUSD price is still making higher highs - this is a bearish divergence setup
- Price is at the upper border of the bollinger bands
- RSI is almost in the overbought area
- Price went up to levels it hasn't been since years
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