WTI OIL 4H RSI Bullish Divergence hinting to trend reversal.

WTI Oil (USOIL) has been trading within a Channel Down pattern since the January 15 High. Since yesterday it appears for the first time to have withdrawn from making Lower Lows. In fact, the 4H RSI has been on Higher Lows since January 27, which is a technical Bullish Divergence.

This hints to a potential trend reversal to bullish and the pattern that we can identify emerging is a Channel Up. This current potential bottoming pattern, resembles the January 08 Low which rallied above its 2.5 Fibonacci extension.

As a result, we can target the Channel's top (Higher Highs trend-line) at 76.50.

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