Oil completed an AB=CD harmonic pattern at PRZ (Counter trend! )
Oil just completed an AB=CD move at a very important PRZ. WE do have bearish divergence on the RSI already and i am expecting a possible reversal at this level. Look for clear bearish evidence since it is a counter trend trade
Note
Strong rejection and bearish divergence on 1H!Note
Idea still valid but no good signal yet, Oil inventory tomorrow!Note
Looking good if this daily candle close like this, then we may get much more down on this trade!Note
If this last lower high got confirmed then we still looking good here.Note
Oil broke new highs as oil rigs count continue to decline. Ida invalidated.
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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.