littleriver
Long

OIL SLICK DOUBLE BOTTOM

FX:USOIL   Crude Oil (WTI)
46 2 0
A reversal in crude looks imminent as a double bottom takes shape. We are a long way from being confirmed and the downtrend line is still very much intact. But looking at the longer term W%R and RSI highlighted with purple trend lines , there is a clear divergence taking place with price. This could possibly be setting up for an explosive breakout in oil             .
Seeing the potential for a bearish butterfly .

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Today's candle on this index chart also leads me to believe a bullish move in oil is happening sooner , rather than later.
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