Texas markets

Crude Oil Price Forecast – Crude Oil Markets Continue to Act Loudly

WTI Crude Oil Technical Analysis

The West Texas Intermediate Crude Oil market rallied a bit during Friday’s trading session to show signs of life as we look to the 200-day EMA. Ultimately, the market will likely continue to see sellers above, but we may be overreacting a bit at this point. It should be noted that we had formed a huge hammer during Thursday’s trading session as we hit the $90 level. However, it looks like we are ready to bounce back a bit and so I think if you are paying close attention to this market, you have to recognize that the $100 level could cause some problems. After that, the $105 level could also be a major area of ​​interest. If we can remove the 50-day EMA, the trend could turn around.

Crude Oil Price Prediction Video for 18.07.22

Brent Crude Oil Technical Analysis

Brent markets also rallied, breaking above the $101 level. Ultimately, this is a market that I think given enough time, we’ll likely find quite a bit of resistance near the $105 level and then maybe even the $107 level. We have also bounced off the 200 day EMA in this market, so it is likely that we will have some recovery. That said, it is not to exit the 50-day EMA on the rise that one could envisage a return to the uptrend. At this point, there are a lot of concerns about whether or not there will be demand due to the fact that the headwinds of recession are here.