Crude bullish RSI divergence after deep correction

Thanks for viewing. I'm not into fundamental analysis - so we could have complete crushing overproduction and oversupply of crude and I wouldn't know. I'm just looking for a potential bounce to go long.

So I just posted to point out a potential EW count and strong bullish divergence displayed by the RSI. It could go a little lower but the spring is coiling and there will be a significant bounce when it comes. Still, I will be waiting for confirmation and haven't decided if I will miss wave A yet and will wait for wave C up.

Happy trading and protect those funds people.

Kommentera:

We just had a daily MACD moving average cross-over as well indicating some upside potential. I went long at $50.61. Wish me luck :)