WTI Oil - Leg D of bullish cypher pattern in the making
Prices could be heading lower to $44.35 in the next few days, which is 78.6% level (Leg D) from where a rebound is expected (Potential Reversal Zone).
Note the RSI is heading lower from oversold region and last week we had talked about a bearish price RSI divergence on 4-hour chart.
Both techniques appear in sync now.. and pointing to weakness ahead.
Note the RSI is heading lower from oversold region and last week we had talked about a bearish price RSI divergence on 4-hour chart.
Both techniques appear in sync now.. and pointing to weakness ahead.
