Price of crude oil has engaged in this thin downtrend channel since my last post on Last Bear phase
I notice a small ascending triangle.
whether this bullish divergence has strong horsepower to push through 50 will be worth noticing. Immediate resistance base on 20EMA is around 51.
Should there be a candlestick bearish pattern happening around this three EMAs, it could be last phase of short.
But nothing is for sure.
On the other hand, Energy related ETF such as XOP, XLE, VDE are showing stronger bullish divergence :-)
Note: the blue region in RSI could prove to be a crucial support if it is
I notice a small ascending triangle.
whether this bullish divergence has strong horsepower to push through 50 will be worth noticing. Immediate resistance base on 20EMA is around 51.
Should there be a candlestick bearish pattern happening around this three EMAs, it could be last phase of short.
But nothing is for sure.
On the other hand, Energy related ETF such as XOP, XLE, VDE are showing stronger bullish divergence :-)
Note: the blue region in RSI could prove to be a crucial support if it is