Crude Oil Price Forecast: Bear Flag Trigger Awaits Further Confirmation
FX Empireยท2025-07-15 20:54
20-Day Line Turned DownNotice that the top of the flag shows resistance around the 200-Day MA (blue) and the 20-Day MA (purple). Plus, the 20-Day line has turned down recently and that follows an advance since May 28. It is also interesting to notice that a minimum 38.2% Fibonacci retracement was completed around the recent lower swing high at $69.98. Together, these signs of resistance are consistent with the formation of a bearish flag and simultaneous bull channel breakdown.Flag Preceded by Sharp Selloff ...