WTI Oil July futures. Buy. Divergence 30min chart

I have drawn the 1hr chart here to show the spike in volume with the low at 1780. We can see a break below the tredline and a lot of volume come back in. Actually the 30 min chart also shows a nice MACDH divergence at this point as well. All in all this actually constitutes a higher swing low on the oil charts after a lot of divergence at the major low of 1735 on the daily charts.

I am preferring to trade the July contract due to oversupply concerns on the June contract.

Stop at 1770 target 2020 in the first instance.

Trade wurde manuell geschlossen:

Managed to get a 100 point move to the upside for some profit taking