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PAY ATTENTION ON THE OIL MARKET (RSI BEARISH DIVERGENCE/HOURLY)

PAY ATTENTION ON THE OIL MARKET (RSI BEARISH DIVERGENCE/HOURLY)

To complete the previous post about RSI divergences on the oil market:
On a hourly timeframe, a weak bullish divergence on the Relative Strength Index ( RSI ) happened from end of September to beginning of October 2021, which led to an increase of the oil price since end of August (from $75.00 to $80.00).
But for now, since end of September, a stronger bearish divergence on the Relative Strength Index ( RSI ) is in progress: the oil price is increasing (from $76.00 to $80.00), while the indicator is decreasing (from 79 to 72) in the overbought zone.
The bearish divergence is still in progress.
Moreover, a doji , followed by a red candlestick , led to a bearish engulfing .
PAY ATTENTION!

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