PAY ATTENTION ON THE OIL MARKET (RSI BEARISH DIVERGENCE / DAILY)
On a daily timeframe, a bullish divergence on the Relative Strength Index (RSI) happened from end of March to end of August 2021, which led to an increase of the oil price since end of August (from $61.00 to $80.00).
But for now, since beginning of March, a bearish divergence on the Relative Strength Index (RSI) is in progress: the oil price is increasing (from $68.00 to $80.00), while the indicator is decreasing (from 83 to 73) in the overbought zone.
The bearish divergence is still in progress. PAY ATTENTION!
But for now, since beginning of March, a bearish divergence on the Relative Strength Index (RSI) is in progress: the oil price is increasing (from $68.00 to $80.00), while the indicator is decreasing (from 83 to 73) in the overbought zone.
The bearish divergence is still in progress. PAY ATTENTION!
Trade closed: target reached:
Finally!
Comment:
Now, oil is on the $67.00 support zone