TraderArgo

Oil Overbought?

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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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