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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⚡ ProDivergence buy.stripe.com/3cs14e15h6FiaBy6oo
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
Related publications
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.