The price of WTI has recently rebounded from its significant losses. Is this the beginning of a new uptrend?
We believe: No, at least not at the current moment.
The On-Balance Volume (OBV) indicates a pronounced hidden bearish divergence.
This divergence needs to be resolved through price declines.
It is reasonable to assume that WTI will, at the very least, target the upper edge of the as-yet-untested order block.
The outcome will then determine whether the downtrend continues or a new bullish trend emerges.
We believe: No, at least not at the current moment.
The On-Balance Volume (OBV) indicates a pronounced hidden bearish divergence.
This divergence needs to be resolved through price declines.
It is reasonable to assume that WTI will, at the very least, target the upper edge of the as-yet-untested order block.
The outcome will then determine whether the downtrend continues or a new bullish trend emerges.