Long on oil etf.
I'm surprised oil stocks are that low.
With OPEC agreeing on cutting oil production soon, this is poised to breakout
Bullish divergence seen in this hourly chart double bottom in both RSI and OBV. Looks ready to pop higher.
OI is looking like it's bottoming at the long term support.
- RSI/MACD positive divergence
- RSI on Monthly in oversold area
- Increasing volume in diamond area
T1 May-Jul: 30.40
T2 May-Dec: 33.80
Looks like a Weekly Bearish Crab
Approaching support and MACD just crossed.
A good buying op would be if the EMA's cross.