RE:anyone have any guesses as to why oil had a spikeAlgos buy when the RSI hits 15ish happened at 10:00am today as well as recently. What matters is what happens after the spike. Does the price continue drifting down like after 10 this am? Low RSI touching bolenger bands is a sign to look for a reversal.
Might also be news:
https://blogs.wsj.com/moneybeat/2016/06/27/big-banks-on-oil-keep-bullish-despite-brexit/