Oil beginning a new rally?
Oil seems to be entering a new bull moment; technical reasons to claim that are:
- Green trendline (bound to feb 2016 low, not shown) being respected;
-Divergence on RSI and Stoch RSI, shown by white trendlines;
-Divergence on MACDH, shown by white curve line;
- 61.8% of retracement from the most recent rally being respected twice;
As the last friday (09/24) was bearish, i would like to see some green candles before a long entry. A break of the green trendline would be a bearish sign, indicating the rally wont happen anytime soon;
- Green trendline (bound to feb 2016 low, not shown) being respected;
-Divergence on RSI and Stoch RSI, shown by white trendlines;
-Divergence on MACDH, shown by white curve line;
- 61.8% of retracement from the most recent rally being respected twice;
As the last friday (09/24) was bearish, i would like to see some green candles before a long entry. A break of the green trendline would be a bearish sign, indicating the rally wont happen anytime soon;
ملاحظة
Would be buying already; Im not trading oil directly thoughملاحظة
Still respecting the green TLملاحظة
opec news started the rallyأغلقت الصفقة: تم الوصول للهدف
Well, as i said, not trading this idea, but if i were, would close position here. This doesnt mean the rally wont keep going, in fact i believe it will, but would be safer close it here. I may add a continuation idea of this later.ملاحظة
closed here 
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.