Brent - RSI Divergence + Overreaction on US sanction on Iran
Oil price have rallied over the U.S sanction on Iran, which I think is an overreaction and underestimation of how Saudi, OPEC and Russia can still provide the 2 million barrels that would come off the market once the sanction starts in November.
Technically however :
1. Price-RSI divergence
2. Boomerang Level as targets (click the chart below to understand Boomerang)
3. Missed Pivots (Rob Booker concept) as targets
Technically however :
1. Price-RSI divergence
2. Boomerang Level as targets (click the chart below to understand Boomerang)
3. Missed Pivots (Rob Booker concept) as targets
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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.