Crude Oil West Texas Intermediate

West Texas Intermediate Crude Oil Market It has declined slightly during the trading session on Friday as it had risen precipitously. The WTI is below a very important differential and that is why I think sellers are going to try to take advantage of that situation. On the other hand, it should be noted that markets usually fill in spreads, but sometimes when they reach the bottom of one they turn around and I think that is what is happening in this market. We have to see how it evolves but if we break below the candle that was formed in the trading session on Friday I will open a short position waiting for the price to fall to a zone close to the level at $ 28. “Data-reactid =” 13 “> The West Texas Intermediate crude oil market has fallen back a bit during the trading session on Friday as it had risen precipitously. The WTI is below a very important spread and so I think sellers are going to try take advantage of this situation. On the other hand, it should be noted that markets normally fill in spreads, but sometimes when they reach the bottom of one they turn around and I think that is what is happening in this market. We have to see how It evolves but if we break below the candle that was formed in the trading session on Friday I will open a short position waiting for the price to fall to a zone close to the level at $ 28.

The other alternative is for the market to break above the candle formed in the session on Thursday, in which case I see a probable rise towards the level of $ 40 that is close to the upper part of the differential range.

Crude Oil Video 05.25.20

Brent

Brent markets They have also retreated a bit as they reached an area on Thursday that offers some resistance. However, the 50-day exponential moving average (EMA) is just below and could therefore offer support and attract buyers at lower levels. In case we break below the 50-day EMA the Brent market would probably start to plummet and I think we could drop to the $ 30 level. Whatever happens, what is clear is that volatility is going to be very high. “Data-reactid =” 18 “> Brent markets have also retreated a bit as they reached an area that offers some resistance on Thursday. However the 50-day exponential moving average (EMA) is located just below and therefore could offer support and attract buyers at lower levels. In case we break below the 50-day EMA the Brent market would probably start to plummet and I think we could drop to the level of $ 30. Whatever happens, what is clear is that volatility is going to be very high.

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

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