Crude Oil Price Forecast – Crude Oil Very Little Ago on Friday


Crude Oil WTI

West Texas Intermediate crude oil market it has fallen slightly during the trading session on Friday, ending a week in which it has been quite stagnant. I think that if we look at the graph we will see that in general we have simply been oscillating and I think we will continue to see something similar since we are in the holiday season and there are many people who are not interested in getting their money’s worth. On the other hand, the market is receiving the impulse of the fall of the US dollar and the OPEC cuts on production, but the question is whether we will have demand or not. Right now all we can do is operate short-term (scalping) and try to take advantage of swings that seem to have a certain bullish bias. “Data-reactid =” 13 “> The West Texas Intermediate crude oil market has fallen slightly during the Friday’s trading session, ending a week in which it has been quite stagnant. I think that if we look at the chart we will see that in general we have simply been oscillating and I think we will continue to see something similar since we are in the holidays and There are many people who are not interested in getting a return on their money. On the other hand, the market is receiving the impulse of the fall of the US dollar and the OPEC cuts on production, but the question is whether we will have demand or not Right now all we can do is operate short-term (scalping) and try to take advantage of the swings that seem to have a certain bullish bias.

Video Crude Oil 08.17.20

Brent

Brent markets they look the same as both markets tend to move in the same direction. The 200-day exponential moving average (EMA) is just above and could continue to offer resistance, as is the 50-day EMA below that could also continue to act as support. The market continues to oscillate within these two moving averages, which shows that these two indicators are the ones that people are going to use the most to see where the trend is going. As long as we stay between these two moving averages I anticipate that the market will continue to oscillate without heading in any direction. If conditions do not change, all you can do is operate very short-term (scalping), waiting for the situation to change. “Data-reactid =” 17 “> Obviously the Brent markets look the same since both markets They tend to move in the same direction. The 200-day exponential moving average (EMA) is just above and could continue to offer resistance, as could the 50-day EMA below that could also continue to act as Support. The market continues to oscillate within these two moving averages, which shows that these two indicators are the ones that people will use the most to see where the trend is going. As long as we stay between these two moving averages I anticipate that the market will continue. oscillating without heading in any direction If the conditions do not change all you can do is operate very short term (scalping), waiting for the situation to change.

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article was originally posted on FX Empire “data-reactid =” 19 “> This article was originally posted on FX Empire

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