TraderArgo

Oil Overbought?

Watching for the stock market vs Oil correlation to see if we might experience more pain in traditional markets. If it's going to be bearish, this is what I expect. RSI made a new high, so i'm watching to learn from its price action if RSI attempts a new bearish divergence trend to top out, or the BAW plays out as the top. Retest of the upper trendline will be the telling part if we experience continuation or a reversal... Interesting times ahead... wonder what the FA narrative will be?
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