The divergence is indicating a move lower. Price action is having trouble making new highs.
Having a look at the WTI futures chart also reveals that oil looks to be bouncing. USDCAD tends to have a negative correlation with oil.
Stop is placed at 1.12640
Having a look at the WTI futures chart also reveals that oil looks to be bouncing. USDCAD tends to have a negative correlation with oil.
Stop is placed at 1.12640
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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.