Oil ready to run?Looks like $OXY is in the mix of a bullish divergence. So lets dig. Look at the lower low on the price it is sharp. It needs to rest the oscillator. Here is the thing, if we can hold above the 0 line on the MACD and start to open up we can see the ticker really run.
Bull Case we have a divergence forcing the gap up. I am looking that if there is a gap fill to take it back to the top with the ema as support. We will see what the market have. for continuation it need to blow pass $65. One of those are the entry.
Bear case first time above the ema since November with 2 candle open and close. This gap fill will be the beginning of the run back down. We are below the 0 line, there is nothing here to see but read. Break below $62 new lows will follow.
