For those that don't know, a momentum divergence is when price makes a new relative high or low, but with less oomph. Generally speaking, the RSI failure swing tells us the smart money is getting out while the dumb money is piling in. What this suggests is a trend reversal (if just only short term) could come next.
As for the oil and gas space, a ton of low risk opportunities have developed of late. Investors and traders alike need to pay attention to this space. This is our best opportunity to get long since Mid-March.
Thanks for reading! Trade 'em well!
No comments:
Post a Comment