"Negative Divergence going on with Crude Oil "
Hello everybody!❤
This is my first time posting here on Trading View
Crude Oil has a great strong rally literally going from trading in March as the Futures Contract were in Negative. If my knowledge is correct the Cash Market went as low as 11 Dollars. But anyways I mean what a solid comeback nobody could ever imagine we would be seeing Oil hitting 100 Dollars per Barrel. Pretty Crazy times to be alive! Anyways as many experience readers will know the idea of Bearish Divergence where the Market is going higher and higher but the RSI is showing underlying weakness. Normally I'm not a big fan of Trading alone on RSI as my approach to markets has been towards Simplicity. I use a system of Price Action Trading, Focusing on Higher Highs and Lower Lower Lows, Focusing on major areas of Support and Resistance levels, False Breakouts. But I do believe that RSI is giving us a very important clue it is really important to pay attention. Let's see how things play out for Crude Oil in the coming months it would be really interesting to see. Until then Good luck with your trading! Follow me on Twitter if you liked my post. Thanks for reading❤
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice!
This is my first time posting here on Trading View
Crude Oil has a great strong rally literally going from trading in March as the Futures Contract were in Negative. If my knowledge is correct the Cash Market went as low as 11 Dollars. But anyways I mean what a solid comeback nobody could ever imagine we would be seeing Oil hitting 100 Dollars per Barrel. Pretty Crazy times to be alive! Anyways as many experience readers will know the idea of Bearish Divergence where the Market is going higher and higher but the RSI is showing underlying weakness. Normally I'm not a big fan of Trading alone on RSI as my approach to markets has been towards Simplicity. I use a system of Price Action Trading, Focusing on Higher Highs and Lower Lower Lows, Focusing on major areas of Support and Resistance levels, False Breakouts. But I do believe that RSI is giving us a very important clue it is really important to pay attention. Let's see how things play out for Crude Oil in the coming months it would be really interesting to see. Until then Good luck with your trading! Follow me on Twitter if you liked my post. Thanks for reading❤
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice!