Over the last year we've been forming an RSI divergence on oil, and we're seeing increasing volatility.
There are a lot of geo-political factors at play here. I think there's a risk premium on oil right now because of Russia.
.. increasing volatility means sharper moves. I'm watching for Russia / Ukraine to resolve, and depending on how it resolves, expecting a major price move one way or the other.
If there is no invasion, no major war in Europe, I'm anticipating a retest of to $70 or $66 level.
learn something bro ... always compare swing highs to swing highs for potential bear div; and swing lows to swing lows for potential bull div
EnCryptoDeCrypto
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@Great_Reset_Investing Does the analysis result/conclusion change between your nitpick here and his analysis? I think not. Maybe focus on the points being made instead of nitpicking the guys post. How about you learn something- don’t assume someone doesn’t understand a concept because they didn’t draw/annotate it exactly how you would. The result is the same, “bro”.
Great_Reset_Investing
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@EnCryptoDeCrypto, it's sloppy; most traders get divergence wrong; it just so happens rsi is making lower highs as well as lower lows. He's specifically annotated the lower lows on the RSI. This would not work every time. It's sloppy and he doesn't understand it, you don't and the Editor doesn't.
louistran_016
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@Great_Reset_Investing, the 3 RSI tops in Mar 1, Jun 28, Oct 18 obviously made lower high and lower low each time, yes there is geopolitical risk in play, but technically speaking what do you want "bro"