goodguy

Crude Oil: Updated long term my favored current view.

FX:USOIL   Crude Oil (WTI)
875 23 9
Weekly Linear Chart.. Notice that at the start of 2015 the weekly RSI was the most oversold that it has been in years yet price did not go below AA (a positive reversal). Currently we a bullish divergence in the RSI . Often (but not always) when you get this combination price will rise. Notice that the length of CC             is almost exactly .62 X the length of AA. This is a relative common occurrence with 5 wave contracting triangles which it seems to me this may well be. Time will tell. I am not saying you should trade on this alone but I like to anticipate in advance of price action. Take care. Have a great weekend.
That's actually Negative divergence.
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goodguy PRO Crit_Nasty
Explain please
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Crit_Nasty goodguy
Example: When the market's PA is moving in an uptrend and the movement of the RSI/MACD/Whateveroscillatoryou'reusingatthetime show's you a downtrend, that's negative divergence. It represents future potential momentum swings.

snapshot
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goodguy PRO Crit_Nasty
Crit thanks for your input and reply. Frankly I am so tired right now I must go to bed. If you have a few free moments this weekend show me chart example so I can understand better what you are saying. I have a lot to learn. Thanks.
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Crit_Nasty goodguy
I completely understand. Get some sleep! I'll talk to you later homie.
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Crit_Nasty Crit_Nasty
Just message me when you've got some free time.
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jangseohee Crit_Nasty
hi Crit, you know bout hidden divergence?
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Crit_Nasty jangseohee
I do. I am however very curious as to what your interpretation of it is...
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Another confirmation of your suspicions is to look at the weekly XOI (Arca Oil Index). I see an almost text book Head and Shoulders formation, with the head in the 1700 range and shoulders in the 1400 range. There is an almost textbook return move to the right shoulder at the 1400 range. This to me suggests a bounce in the 1100 -1200 range, which is where we are at. Also many bullish divergences showing RSI / MACD / Stochastics etc. Great Chart! You are a good guy!
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jangseohee DanielDirlam
Let's check it out.. DanielDiriam
whether it is XOI, XOP, XLE or whatever energy index, i reckon the pattern is almost the same except the value
monthly wise it looks a little bit hidden divergence though the candle is not completed yet
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while weekly shows almost a class A bullish divergence, though next week's candle is important and has to be UP
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