OIL: H4 graph , ascending trend
Price at levels of horizontal resistance 40.15 usd
Price action : Pin bar at levels of resistance
Engulfing candle after the pin , negative signal
Divergence with DeM : lower top in the indicator , higher top in the chart
Indicators :
DeM goes below 70 after divergence – strong negative signal
RSI going under 70 – negative signal
Alternative scenario :
If the price go over the pin bar will negate the formation
Head of stocks trading – S.Angelov
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