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Crude Oil Price Forecast – Crude Oil Markets Continue to See Noisy Behavior
video The West Texas Intermediate Crude Oil market has gone back and forth during the trading session on Wednesday, as we continue to see a lot of noisy behavior. Ultimately, the 50-Day EMA above offers a significant amount of resistance, and therefore if we were to break above there, I think a lot of people will pay close attention to it reaching toward the $75 level. If we were to break above the $75 level, then it opens up an opportunity to send this market much higher. On the move higher, I anticipate that the 200-Day EMA might be a target, and therefore I would pay very close attention to it on a breakout to ... (full story)