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Crude Oil Price Forecast: Keep It Simple, Watch This Moving Average - gepahotalefi.web.fc2.com

On Wednesday before the FOMC announcement, the IEA showed that U. Should the trend truly break where we see further inventory draws on Wednesday, we could find the price of Crude supported as well. Interested in Joining Our Analysts, Instructors, or Strategists For a Free Webinar? CRUDE OIL TECHNICAL ANALYSIS - The longer-term view of Crude going back to mid can help us see where we should focus on possible price support if buying pressure does not arise.

Moving Average Explosions

Despite Crude Oil having stretched Bearish momentum, we have not yet seen significant buying campaign. Additionally, if you have been watching the Commitment of Traders reportyou will remember that a lot of the buying pressure from hedge funds has been supporting Crude Oil for the last few months.

The recent drop in price could be due to hedge funds getting out of the market, which begs the question, what would cause theme to re-enter the market? It's fair to think it may require a shift in the supply-demand imbalance despite OPEC's recent efforts as the average US Crude Stockpiles have gained steadily due to Shale production. Hedge funds are likely to require much lower prices before accumulation begins again or a shock higher in Bullish Momentum, which has currently vanished.

The price zone in focus if we continue to see price declines is the area encompassing the Naturally, a break back above the DMA that aligns with USD-weakness CL1 to DXY day correlation is.

The price of Crude Oil recently traded below the DMA with RSI 5 registering a bearish extreme. If the price pops higher as it did in April, August, and November of last year, the Bulls may feel as though they've dodged a bullet.

While such a breakdown would hurt, price holding above the November low could indicate a longer-term consolidation lasting much of the year, which is when larger-range Fibonacci Retracement is best used. Are commodity prices matching DailyFX forecasts so far in ? For those moving average bounce forex in shorter-term levels of focus than the ones above, these levels signal important potential pivot levels trade allocation futures transactions the moving average bounce forex hours of trading.

Contact and follow Tyler on Twitter: DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from IG. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Crude Oil Price Forecast: Keep It Simple, Watch This Moving Average March 15, Crude Oil Technical Strategy: Bloomberg Crude Oil Overlaid Red Line With XOP ETF Data Source: TradingView On Wednesday before the FOMC announcement, the IEA showed that U. Register Here CRUDE OIL TECHNICAL ANALYSIS - The longer-term view of Crude going back to mid can help us see where we should focus on possible price support if buying pressure does not arise.

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