Brent oil – Corrective rally likely on bullish price divergence

2 ago 2016

• Oil bullish price RSI divergence on 4-hr chart could yield a move higher to $42.70 (falling trend line resistance), which if breached would add credence the bullish divergence and open doors for $43.83.
  

• On the lower side, a break below $41.85 would signal the failure of bullish price RSI divergence and open doors for a drop to $41.00 handle.