OIL LONG: Clear reversal

In my opinion this is a clear reversal on 4 major indicators;

1. 200DMA
2. RSI usually reverses around 30 when the price is retracing and not crashing (our case)
3. MACD bullish reversal
4. STOCH RSI bottomed for a week now.

Furthermore, the general environment for oil is good with OPEC talks about extension cuts (even rumours are good to make profits) as well as the trump administration.

Yorum:

Bullish divergence on 4H. This could be possible bottom for now.

Yorum:

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