Crude Oil Video 06.29.20
On Friday, the Brent markets retreated slightly during the trading session as we continue to see a lot of turbulence in this market. That said, the Brent market has not yet closed the gap, so it is very possible that we can continue to the $ 45 region. At this point, we would also have a significant resistance barrier in the form of the 200-day EMA, which certainly deserves special attention. With that in mind, I like the idea that we’re buying value based on the 50-day EMA that offers support. We have not formed the following range, but with enough time we should and therefore it is worth being patient. I think there is even more upward pressure than downward pressure, so this is something you need to keep in mind as we move forward.
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