Broadening top formation
Hist, RSI, Stoch, OBV, CMF, MFI Bearish divergences on the weekly line chart, RSI is at 74
I expect further downside. However, this trade setup will depend entirely on the Russia and Ukraine situation.
If the situation escalates, oil will go higher. Expect the opposite with deescalation
Enter Short around $90. Stop at $92.50
TP - $71
Hist, RSI, Stoch, OBV, CMF, MFI Bearish divergences on the weekly line chart, RSI is at 74
I expect further downside. However, this trade setup will depend entirely on the Russia and Ukraine situation.
If the situation escalates, oil will go higher. Expect the opposite with deescalation
Enter Short around $90. Stop at $92.50
TP - $71
Note
SL HitRussia escalated the conflict and oil prices continued to rise. As peace talks continue, oil prices will stabilize.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.