Brent - RSI Divergence + Overreaction on US sanction on Iran
Oil price have rallied over the U.S sanction on Iran, which I think is an overreaction and underestimation of how Saudi, OPEC and Russia can still provide the 2 million barrels that would come off the market once the sanction starts in November.
Technically however :
1. Price-RSI divergence
2. Boomerang Level as targets (click the chart below to understand Boomerang)
3. Missed Pivots (Rob Booker concept) as targets
Technically however :
1. Price-RSI divergence
2. Boomerang Level as targets (click the chart below to understand Boomerang)
3. Missed Pivots (Rob Booker concept) as targets
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