In the daily chart of WTI, we can detect a hidden divergence in MACD and price. Friday’s movement was strong but it was not significant to the strong yearly pivot resistance and stayed below 200 MA. It can be only a fake breakout. Yet, we shall observe every new detail closely.
If it fails at the 200 MA resistance, be prepared to go short. Unless the fundamentals of the Ukraine war take over and the panic pulls up the chart.
If it fails at the 200 MA resistance, be prepared to go short. Unless the fundamentals of the Ukraine war take over and the panic pulls up the chart.