Oil - RSI Divergence on the long term
Over the last year we've been forming an RSI divergence on oil, and we're seeing increasing volatility.
There are a lot of geo-political factors at play here. I think there's a risk premium on oil right now because of Russia.
.. increasing volatility means sharper moves. I'm watching for Russia / Ukraine to resolve, and depending on how it resolves, expecting a major price move one way or the other.
If there is no invasion, no major war in Europe, I'm anticipating a retest of to $70 or $66 level.
There are a lot of geo-political factors at play here. I think there's a risk premium on oil right now because of Russia.
.. increasing volatility means sharper moves. I'm watching for Russia / Ukraine to resolve, and depending on how it resolves, expecting a major price move one way or the other.
If there is no invasion, no major war in Europe, I'm anticipating a retest of to $70 or $66 level.
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.