WTI CrudeOil Forecast: Price Breaks 50-Day EMA
demand will continue to be strong, and that is what the market desperately needs. To the downside, the $74 level should offer support, right along with the $73 level. As long as we can stay above all of that, then I will be looking to buy dips as value in what I think could be one of the better moving markets early in 2022.
If we were to turn around and break down below the 200 day EMA, that could be rather negative for the markets, mainly because it already looks as if we have broken out so that would be a complete review of the attempt at strengthening. We made one heck of a turnaround so far, and I do think that we have further to go based upon what we have seen on Monday.
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