Updated
SPGSCLP, Neutral
Crude oil has been in an uptrend since June 2017. The last two highs though have formed a bearish divergence.
1. First price high, MACD peak, RSI peak
2. Higher price high, lower MACD peak, lower RSI peak
Not sure if the trend will continue, but I feel that the uptrend may be nearing its end.
1. First price high, MACD peak, RSI peak
2. Higher price high, lower MACD peak, lower RSI peak
Not sure if the trend will continue, but I feel that the uptrend may be nearing its end.
Note
It's early in the week, but monday closed below support and today's open looks weak as well.This seems to validate that the uptrend has, at least for now, ended.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.