Crude Oil: Updated long term my favored current view.

Weekly Linear Chart.. Notice that at the start of 2015 the weekly RSI was the most oversold that it has been in years yet price did not go below AA (a positive reversal). Currently we a bullish divergence in the RSI. Often (but not always) when you get this combination price will rise. Notice that the length of CC is almost exactly .62 X the length of AA. This is a relative common occurrence with 5 wave contracting triangles which it seems to me this may well be. Time will tell. I am not saying you should trade on this alone but I like to anticipate in advance of price action. Take care. Have a great weekend.