Pretty clear by now, Western Texas Intermediate (WTI) have been developing a megaphone-like consolidation since January, 2015.
The new lows made just a week ago is positively diverged, without having new lows on RSI which is a big buy signal.
Open: 46.61
S/L: 45.20
T/P: 54.11/ 58.77
Dollar analysis: tradingview.com/v/qJVQ1dx3/
In my opinion, the Baker Hughes Rig count is nothing more than a distraction of what the market intends to do. I'm bullish in oil in the short term and long term. It does not matter if the rig count decline in speed/velocity or not, the market will always have their excuse of why its going up after; when technicals have long confirmed that.
The new lows made just a week ago is positively diverged, without having new lows on RSI which is a big buy signal.
Open: 46.61
S/L: 45.20
T/P: 54.11/ 58.77
Dollar analysis: tradingview.com/v/qJVQ1dx3/
In my opinion, the Baker Hughes Rig count is nothing more than a distraction of what the market intends to do. I'm bullish in oil in the short term and long term. It does not matter if the rig count decline in speed/velocity or not, the market will always have their excuse of why its going up after; when technicals have long confirmed that.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.