Oil looks good for a temporary respite on the march to close the gap at 41. We now have a nice strong divergence on the hour chart at the top of the rising wedge channel, we can probably expect a pull back to test either of the green support lines and possibly a test break of the rising wedge.
Stop just above the hourly divergence, profits to be taken at each support level. If the divergence fails 41 may come sooner than expected... and we could consider reverses and going long
Stop just above the hourly divergence, profits to be taken at each support level. If the divergence fails 41 may come sooner than expected... and we could consider reverses and going long
Trade closed: target reached
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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.