chartwatchers

OIL weekly trendline break

Lång
FX:USOIL   CFDs på råolja (WTI)
13
Oil is doing what I was waiting for.:
It's climbing higher and higher. If we can hold above 34.60-34.70 this week then oil will print a double bottom with a breakout.
We have a MACD cross with a divergence of the weekly RSI.

The trendline is broken... Technical traders will be buying from tomorrow.

I would like to see a larger volume than last week or at least that volume, and a weekly close above 35$.
Last time we run 20$ up to the 35EMA from the similar - "beartrapped"- double bottom.

I think we are going to test soon 40$... And don't forget : all the powers need higher oil prices now... The whole world need inflation not a recession caused by the energy sector.

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