new Low (a lower trough than the last) but the indicator does not, a bullish divergence occurs. OR, a peak HH above the overbought level, followed by an intervening trough that does not reach the oversold level, then a lower second peak. If price reverses direction when it reaches a moving average (or trend line) we say that price has respected that moving average (or trend line). Failure swings, in overbought or oversold territory, signal that a trend is weakening and likely to reverse.
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In an up-trend, if price makes a new High (a higher peak than the last) but the indicator fails to do so, that is a bearish divergence. Price whipsawing around a moving average signals that price is ranging. Many indicators tend to imitate the peaks and troughs on the price chart with a series of similar highs and lows. If price fluctuates around a moving average, frequently crossing above and below, this is referred to as whipsawing. A triple divergence only occurs where a divergence has given an incorrect signal. We do not spam. Compare our market views. This pattern of highs and lows is identical to a trend reversal on a price chart. This is significant as it confirms that price is trending. To complete the failure swing the indicator must then rise above the intervening peak.
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The dip in price reflects. Oversupply and shrinking demand encourage traders to sell crude oil markets to lower ground while rising demand and declining or flat production encourage traders to bid crude oil to higherRead more