We have an interesting setup in the ratio between WTI and Brent.
In the past, whenever this ratio was declining, WTI prices rallied.
Now, we have a tight range, from where the ratio will break out very soon, and judging by the RgMov readings, (provided it takes a break, after hitting oversold readings in CCI) odds are that the ratio continues to decline on a breakout of the trendline below price.
Keep an eye on this ratio, it might flash a bullish confirmation signal for our crude oil long positions soon.
Cheers,
Ivan Labrie.
In the past, whenever this ratio was declining, WTI prices rallied.
Now, we have a tight range, from where the ratio will break out very soon, and judging by the RgMov readings, (provided it takes a break, after hitting oversold readings in CCI) odds are that the ratio continues to decline on a breakout of the trendline below price.
Keep an eye on this ratio, it might flash a bullish confirmation signal for our crude oil long positions soon.
Cheers,
Ivan Labrie.
