Crude Oil Analysis- Crude Price Forming a Ascending Triangle
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Oil traders are now expecting an improvement in energy

Crude Oil Analysis- Crude Price Forming a Ascending Triangle

The West Texas Intermediate crude oil market has been struggling at the same level for several days now, as we are sitting just below the 200-day EMA. This is definitely a particularly important technical indicator that a lot of people will follow, so it is not a big surprise that we will stop here. Also, it is at the top of the previous interval, so many people will pay attention to that as well. With this happening, I like the idea of ​​pulling back from here and trying to buy. Keeping in mind that I like the idea of ​​continuing to offer 50 day EMA support, and that’s why I’m buying dips because they happened.

Brent

The Brent, of course, will follow the same general pattern, and that’s why I like the idea of ​​buying dips in that market as well. The difference between Brent and West Texas Intermediate crude is that the Brent market has not filled the gap, so there is certainly a lot more room to run than the WTI market. But we also have a 200-day EMA. It is possible that this market, meanwhile, plays a bit of a “catch-up,” and that’s why I like the idea of ​​buying this market in the WTI market. The 50-day EMA also appears to enter the gap zone, providing even more support.

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About Dwipen Gogoi

Dwipen Gogoi, MBA (IB and IT) and PGDFT from Pune. (Technical Analyst of AliceBlue) I am a You Tuber, Blogger and doing Technical Analysis last 10 years in Stock, Commodity and Forex Market. i am creating various trading strategies for day traders, swing traders, scalp traders.

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