OIL weekly trendline break
Oil is doing what I was waiting for.:
It's climbing higher and higher. If we can hold above 34.60-34.70 this week then oil will print a double bottom with a breakout.
We have a MACD cross with a divergence of the weekly RSI.
The trendline is broken... Technical traders will be buying from tomorrow.
I would like to see a larger volume than last week or at least that volume, and a weekly close above 35$.
Last time we run 20$ up to the 35EMA from the similar - "beartrapped"- double bottom.
I think we are going to test soon 40$... And don't forget : all the powers need higher oil prices now... The whole world need inflation not a recession caused by the energy sector.
It's climbing higher and higher. If we can hold above 34.60-34.70 this week then oil will print a double bottom with a breakout.
We have a MACD cross with a divergence of the weekly RSI.
The trendline is broken... Technical traders will be buying from tomorrow.
I would like to see a larger volume than last week or at least that volume, and a weekly close above 35$.
Last time we run 20$ up to the 35EMA from the similar - "beartrapped"- double bottom.
I think we are going to test soon 40$... And don't forget : all the powers need higher oil prices now... The whole world need inflation not a recession caused by the energy sector.