Oil seems to be entering a new bull moment; technical reasons to claim that are:
- Green trendline (bound to feb 2016 low, not shown) being respected;
-Divergence on RSI and Stoch RSI, shown by white trendlines;
-Divergence on MACDH, shown by white curve line;
- 61.8% of retracement from the most recent rally being respected twice;
As the last friday (09/24) was bearish, i would like to see some green candles before a long entry. A break of the green trendline would be a bearish sign, indicating the rally wont happen anytime soon;
- Green trendline (bound to feb 2016 low, not shown) being respected;
-Divergence on RSI and Stoch RSI, shown by white trendlines;
-Divergence on MACDH, shown by white curve line;
- 61.8% of retracement from the most recent rally being respected twice;
As the last friday (09/24) was bearish, i would like to see some green candles before a long entry. A break of the green trendline would be a bearish sign, indicating the rally wont happen anytime soon;
Note
Would be buying already; Im not trading oil directly thoughNote
Still respecting the green TLNote
opec news started the rallyTrade closed: target reached
Well, as i said, not trading this idea, but if i were, would close position here. This doesnt mean the rally wont keep going, in fact i believe it will, but would be safer close it here. I may add a continuation idea of this later.Note
closed here 
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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.