OIL 1H long
Updated
On the 1H chart there is a bullish jeddingen divergence (price vs. momentum), price went already and might rise to trendline, maybe to $50.
Additional confirmation:
- RSI was oversold and is rising again
- the MACD crossed the signal line
Additional confirmation:
- RSI was oversold and is rising again
- the MACD crossed the signal line
Note
OIL made a jump up in direction of the profit-target $50.The uptrend might continue - RSI is still not overbought.
But to play it safe, you might want to close the trade and take the profit.
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