Hi everyone,
This week is an important decision for the coming course of the oil price. The course in the RSI is now important to keep an eye on, at the previous bottom at $ 22.50 the indicator was OS, which suggested a temporary bottom, now it is important that it remains above the OS line (> 30), then there is a double bottom pattern and we can go up again. If it falls below it, it may drop further towards $ 15 (see the downward trend channel). So $ 22.50 is the important dividing line
Good luck traders!
Regards,
TT
This week is an important decision for the coming course of the oil price. The course in the RSI is now important to keep an eye on, at the previous bottom at $ 22.50 the indicator was OS, which suggested a temporary bottom, now it is important that it remains above the OS line (> 30), then there is a double bottom pattern and we can go up again. If it falls below it, it may drop further towards $ 15 (see the downward trend channel). So $ 22.50 is the important dividing line
Good luck traders!
Regards,
TT