It looks like CrudeOil is trying to recapture one of the most recent highs, which of course would be a strong turn of events.
Enter your emailAs things stand currently, it looks like we are trying to recapture one of the most recent highs, which of course would be a strong turn of events.
By forming the candlestick that we have, it is likely that we could break above the $105 level, possibly even looking to get to the $110 level. With this, it would be a very positive turn of events considering just how negative the crude oil market has been.The 50 Day EMA underneath is a significantly important indicator of the trend, and it sits at the $99.21 level.
There is a lot of volatility out there when it comes to the oil market, due to the fact that inflation is hitting extreme highs, but at the same time, there are questions as to whether or not the demand is going to continue due to the fact that there is a high probability of recessions hitting various economies around the world.
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