Oil Comeback?
It is about to break a RSI trend line after a divergence occurred. This indicates a rise in the price the next days.
If it breaks upwards on the descending triangle pattern this will be another good indication.
Also look how close it is the big trend line. This trend line works as a support. Breaking this one might trigger a hard fall the next days.
If it breaks upwards on the descending triangle pattern this will be another good indication.
Also look how close it is the big trend line. This trend line works as a support. Breaking this one might trigger a hard fall the next days.
Note
Currently breaking out of the triangle pattern.Note
Currently testing upper line on the descending rectangle pattern.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.