First of all, I need to say that the trade has no confirmation yet, but it's starting to look .
As you can see, CME rallied to 85$ and formed a . Target was at 72$, and respected it, without a big fight, closing below the first strong at 78$ with ease.
Now, it's looking like a at a good daily , close to a very very strong weekly support, and a psychological level. There is a at the current level, but I always wait for confirmation. Looking at the histogram, we can see a nice forming, bulls being much weeker now than a few weeks ago. Looking at the lines, we have a class B . As I wrote in the chart, histogram is going flat, not higher, so neither divergence is confirmed yet, they are still forming.
So, we don't have candle confirmation and no divergence confirmation, so it's good to be patient. As long as we stay on top of the weekly , I'm looking to buy.
Regarding the divergence, today it has been confirmed, histogram going higher. For some reason, after posting the chart, the hammer became a piercing line, don't know high but I'm 99% sure that it was a hammer when I drew the chart. Confirmation for the piercing line too, with a good day up