WTI DIVERGENCE
WTI rallied yesterday alongside the depreciation of the USD against EUR. But it appears that it is slowing down. The price of WTI appreciated by nearly 4 points, starting at 85.848 USD and reaching 89.72 USD.
The 9 day MA is still above 20 day MA, and the Upper and Lower Bands of the Bollinger Bands are wide open. But still, it is observable that the rally is slowing down, the bands are getting closer for the last 3 periods, while MACD's histogram is in decline for the past 6 periods. This might be an indicator that the bullish movement has stopped, or at least has slowed down significantly and the profit opportunities for the bears might be diminishing.
If the bullish movement continues, the price might try to surpass the Upper Band of the Bollinger Bands, which currently stays at 90.50, or, in the opposite scenario, it might try to attack it's previous low at 88.81
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
The 9 day MA is still above 20 day MA, and the Upper and Lower Bands of the Bollinger Bands are wide open. But still, it is observable that the rally is slowing down, the bands are getting closer for the last 3 periods, while MACD's histogram is in decline for the past 6 periods. This might be an indicator that the bullish movement has stopped, or at least has slowed down significantly and the profit opportunities for the bears might be diminishing.
If the bullish movement continues, the price might try to surpass the Upper Band of the Bollinger Bands, which currently stays at 90.50, or, in the opposite scenario, it might try to attack it's previous low at 88.81
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
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