Technician

Oil and Copper Diverging = Monitoring for an oppurtunity

FX:USOIL   Crude Oil (WTI)
230 0 5
Crude is rising, meantime, copper             is under heavy pressure, which one will follow the other. In a previous post I discussed how the two commodities are positively correlated to a large degree (https://www.tradingview.com/v/OVGIqO6Y/ ), and in most cases copper             lead oil             prices. Having that said, I am monitoring carefully for a potential oil             short position, still not confirmed though, I will look for a break below 3.27-support in copper             , and monitor how crude reacts to the 200-days SMA and trend line resistance.
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