WTI Crude Oil - RSI Bullish Divergence
RSI plot disagrees with the price.
While the former made a new higher low back in Dec. The latter made a new lower low, simultaneously.
This bullish pattern was formed in a value zone established in a higher time frame.
Remember that this is no forecast, premonition or whatsoever. The future does not exist.
Technical analysis is merely stating what is, quantifying the battle between supply & demand and how it stands right now.
While the former made a new higher low back in Dec. The latter made a new lower low, simultaneously.
This bullish pattern was formed in a value zone established in a higher time frame.
Remember that this is no forecast, premonition or whatsoever. The future does not exist.
Technical analysis is merely stating what is, quantifying the battle between supply & demand and how it stands right now.