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  • WTI Crude 1 Weekly Chart - Hidden RSI Divergence Between Two Recent Weekly Lows. N.B - No RSI Divergence On Daily Chart

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    The document discusses technical indicators for WTI crude oil futures contracts across multiple timeframes. It notes divergences in the relative strength index and MACD on the hourly chart that could signal a reversal from recent lows. While support lines saw RSI divergences on the 5-minute chart followed by rallies, it remains unclear if fundamentals or technicals are driving the market. A later trade based on the hourly RSI divergence would have been profitable.

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    The document discusses technical indicators for WTI crude oil futures contracts across multiple timeframes. It notes divergences in the relative strength index and MACD on the hourly chart that could signal a reversal from recent lows. While support lines saw RSI divergences on the 5-minute chart followed by rallies, it remains unclear if fundamentals or technicals are driving the market. A later trade based on the hourly RSI divergence would have been profitable.

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    17 views2 pages

    WTI Crude 1 Weekly Chart - Hidden RSI Divergence Between Two Recent Weekly Lows. N.B - No RSI Divergence On Daily Chart

    Uploaded by

    api-100874888
    The document discusses technical indicators for WTI crude oil futures contracts across multiple timeframes. It notes divergences in the relative strength index and MACD on the hourly chart that could signal a reversal from recent lows. While support lines saw RSI divergences on the 5-minute chart followed by rallies, it remains unclear if fundamentals or technicals are driving the market. A later trade based on the hourly RSI divergence would have been profitable.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    WTI Crude 1 Weekly Chart --> Hidden RSI Divergence between two recent weekly lows. N.

    B - No RSI Divergence on Daily Chart.

    WTI Crude 1 Hour Chart --> RSI Divergence and MACD Divergence on key historic support lines.

    James Fournier

    WTI Crude 5 Minute Chart ---> RSI Divergence at each support line followed by rally. With no new low on the hourly chart is this the sign of a reversal.....or has the state of recent fundamentals taken over technicals in driving the market?

    Looking later on at 22.58 PM GMT, it is clear the trade would have been a success with a prot taking opportunity at the RSI bearish divergence (shown with the red line), a place for re-entry at the 68% Fib Level or having moved the stop up to onside - room to allow the trade to run given the fractal multi-time-frame nature of the trade.

    James Fournier

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