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WTI Oil - bearish price RSI divergence on 4-hr chart

FX:USOIL   Crude Oil (WTI)
Prices hit a high of $49.14 before trimming gains to trade around $48.80 levels.

  • 4-hour chart shows a bearish price RSI divergence.
  • Also note, futures show a gap up opening today. The gap is between $48.22 and $48.82 levels.
  • In the light of bearish price RSI divergence, prices appear likely to fill the gap ahead of NY closing.
  • On a larger scheme of things, bullish invalidation is seen only if prices see a day end closing below Apr 29 high.

franciskim
6 months ago
nice pick up!
Reply
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