RSI Crude Oil Technical Indicator Patterns & Oil Trend Lines
Traders can draw oil trend lines on the RSI in the same way as you can draw oil trend lines on the crude crude oil trading price charts. RSI oil trend lines are drawn the same way oil trend lines are drawn on the crude oil chart; by joining consecutive highs of the RSI oil indicator or consecutive lows on the RSI oil Indicator.
RSI Oil Trend-Lines & Oil Trend lines on Oil Trading Charts
RSI Crude Oil Trading Chart Patterns in Crude Oil Trading
Crude Oil Trading RSI Chart patterns such as head and shoulders oil chart patterns or triangle crude oil trading chart patterns that are not evident on the crude crude oil trading price chart are often formed on this RSI crude oil technical technical indicator.
RSI oil indicator also often forms oil patterns such as head & shoulders or triangles oil chart patterns that may or may not be visible on the crude crude oil trading price chart. As shown on the crude oil chart below the Reverse Head and Shoulders reversal formation is clearly shown on this oil RSI indicator.
Crude Oil Trading Chart Patterns on RSI Crude Oil Trading Chart Indicator
Support & Resistance Levels Trading using RSI Oil Trading Indicator
Sometimes oil chart levels of support and resistance levels are demonstrated better on the RSI indicator than on the crude crude oil trading price chart.
In an upward oil market trend the support levels should not be broken at any one time, if they are broken then crude crude oil trading price will also break the support levels & the upward oil trend is going to reverse.
In a downward oil trend the resistance levels should not be broken, if they are broken then crude crude oil trading price will also break the resistance levels, and the downward oil trend is going to reverse.
Support and Resistance Levels on RSI Oil Indicator
In the oil example above when the third resistance level was broken the downward oil trend reversed to an upward oil trend and when the sixth support was broken the upward oil market oil trend reversed and broke the upward oil trend line.
