• Home
  • Contact Us
  • Privacy & Policy
Thursday, May 26, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Forex

The 50 SMA Has Turned Into Support for Crude Oil

by admin
March 31, 2021
in Forex
0
The 50 SMA Has Turned Into Support for Crude Oil
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Crude Oil turned bearish earlier this month, after being bullish for about a year, since the US WTI crude came back from $-37 ast April. The economic uncertainty and the recession in Europe and in the UK haven’t affected the bullish run n crude Oil too much.

Although, it turned bearish this month and has been trading in the lower bound since the middle of the month. Russia and OPEC agreed to postpone the production quotas they have in place, which gave Oil a $2 boost earlier this week, but that bullish momentum didn’t last long.

US crude Oil found resistance at the 200 SMA (purple) yesterday and reversed back down. Although, the 50 SMA (yellow) has turned into support on the H4 chart now. It held the decline yesterday and it is holding again today, although the price is not bouncing off of it, which is a signal that the pressure remains to the downside.

That’s great for us, since we have an open sell signal here, which we opened just below $61. We are in profit on this trade, which we opened last Friday and we are going to hold this position, hoping that the 50 SMA will break soon, which would open the door for $59 and lower.



Tags: CrudeoilSMASupportTurned
  • Trending
  • Comments
  • Latest

A 48-year market vet warns that the Fed will be forced to tighten policy ‘way sooner’ than investors anticipate as inflation continues to soar — triggering a stock market crash of up to 80%

August 28, 2021
27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

27-year-old UG graduate now millionaire proposes to girlfriend on b’day in video

August 9, 2021

‘It’s begging to be destroyed’: A stock trader who says he made more than $100,000 shorting the market during the 2008 crash just bet against the S&P 500 — and warns there’s a ‘fair chance’ stocks are about to drop 25%

September 11, 2021

Stocks tanked in the first quarter, and new research shows there should be a reversal by the end of June

April 15, 2022
EUR/USD’s Near-Term Bullish Channel Intact Amidst ECB Hawkishness – Action Forex

EUR/USD’s Near-Term Bullish Channel Intact Amidst ECB Hawkishness – Action Forex

0

Uber Hacking: Customers Not at Risk of Financial Crime, Says Minister

0

Black Friday Merchants Look to Extend Moment of Retail Optimism

0

Hotshot Snapchat Founders Face a Dilemma: Lie Low or Live Large?

0
EUR/USD’s Near-Term Bullish Channel Intact Amidst ECB Hawkishness – Action Forex

EUR/USD’s Near-Term Bullish Channel Intact Amidst ECB Hawkishness – Action Forex

May 26, 2022

Singapore Stock Market May Halt Losing Streak

May 26, 2022

‘Does Radio Ring a Bell?’: How the Metaverse Will Change Society

May 26, 2022

Bitcoin Stabilizes in Tight Range; Support at $27K, Resistance at $30K-$35K

May 26, 2022

Recent News

EUR/USD’s Near-Term Bullish Channel Intact Amidst ECB Hawkishness – Action Forex

EUR/USD’s Near-Term Bullish Channel Intact Amidst ECB Hawkishness – Action Forex

May 26, 2022

Singapore Stock Market May Halt Losing Streak

May 26, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.