Bounce / Reversal

NYMEX:CL1!   Light Crude Oil Futures
77 3 1
Price action next week will confirm
You never know there is definitely a divergence there! A lot of people are willing this thing to go higher. Oh except the BIG players who are short and possibly OPEC trying to ruin Shale Oil and the current production hedgers who have added to their hedged position and are adding more hedges now. Realistically if you ask me when RSI passed back up above 50 (in your first divergence example) then that was the safe long entry...and in the current divergence 50 looks like a safe bet as well. (or safer at least)
Stay long
It bounced.

See update Jan, 17