Crude Oil Video 09.07.20
Brent will of course follow the same general pattern, so I like the idea of buying dips on this market as well. The difference between Brent and West Texas Intermediate Crude is that the Brent market has not closed the gap, so it certainly has a lot more leeway than the WTI market. In the $ 46 region, we not only have the top of the spread, but we also have the 200-day EMA. It is possible that this market is playing a little “catching up” while waiting and therefore I like the idea of buying this market on the WTI market. The 50-day EMA also appears to be entering the gap area, providing even more support.
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