OIL 1H long

2 août 2017

On the 1H chart there is a bullish jeddingen divergence (price vs. momentum), price went already and might rise to trendline, maybe to $50.
Additional confirmation:
- RSI was oversold and is rising again
- the MACD crossed the signal line

3 août 2017

Note

OIL made a jump up in direction of the profit-target $50.
The uptrend might continue - RSI is still not overbought.
But to play it safe, you might want to close the trade and take the profit.