Two Buy Signals in Crude Oil [BP plc(LON:BP), Exxon Mobil Corporation(NYSE:XOM)]

crudeoilTo help us analyze this chart of light, sweet crude oil, let’s use two momentum indicators.

  • The MACD (Moving Average Convergence Divergence) indicator
  • The RSI (Relative Strength Index – not to be confused with “relative strength”).

The main portion of the chart shows the price action of light, sweet crude oil.

Just below the price action portion of the chart is the MACD indicator.

In this chart, the “MACD line” is green and the “signal line” is red. The signal line is the moving average of the MACD line, which is why it’s a bit slower to move.

There are two main requirements for a true

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