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Crude Oil Price Forecast: Slides Below 50-Day Average Amid Bearish Pressure
FX Empire· 2025-07-22 21:03
Group 1 - The 50-Day support line is currently at risk, having been tested twice since the breakout in June, with the first test resulting in a bullish hammer candlestick pattern [1] - A significant resistance was encountered at the 200-Day moving average after a sharp advance, indicating a successful test of resistance at the lower rising trend channel [1] - A bear flag pattern was triggered with the breakdown below the lower channel line, indicating potential bearish momentum [1] Group 2 - There is a notable support zone between $65.65 and $65.00, which has previously acted as both support and resistance, including an AVWAP level from the April low [2] - Crude oil found support and bounced from the AVWAP line during a sharp drop from the trend high four weeks ago, reinforcing the significance of this support zone [2] Group 3 - A decisive decline below $65.00 could lead to the 61.8% Fibonacci retracement level at $64.50, with a potential further decline to the 78.6% retracement at $60.71 [3] - An ABCD pattern suggests a potential target of $64.42, aligning with the 61.8% Fibonacci level, indicating a critical price area for future movements [3] - The behavior of the market after reaching the $64.50 area will be crucial, as strong support may lead to a bounce, with recovery speed of the 50-Day MA being a determining factor [3]
Crude Oil Price Forecast: Rally Stalls Near Trendline, Shooting Star Emerges
FX Empire· 2025-06-19 20:01
Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading [1]. Group 1 - The website provides general news, publications, and personal analysis intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - Users are advised to perform their own research and consider their financial situation before making decisions [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - It encourages users to understand how these instruments work and the associated risks before investing [1].
Crude Oil Price Forecast: Sharp Rebound Sets Stage for Further Upside
FX Empire· 2025-04-15 20:40
Group 1 - The price of crude oil is experiencing a narrow trading range, with a low of $60.92 and a high of $62.12, indicating a consolidation phase [1] - A decline below the day's low of $60.92 could target $60.68, followed by $59.54, while resistance levels are identified at $62.74 and $63.45 [2] - The current consolidation phase may lead to a continuation of the rally from the recent lows, suggesting potential upward movement in crude oil prices [3][4] Group 2 - The recent decline in crude oil prices represents the largest bearish correction since May 2023, followed by a sharp rally and bullish reversal [5] - There is potential for the subsequent rally to test resistance levels around the 20-Day MA at $66.18 and the 50-Day MA at $68.29, with support seen at the bottom of the trend channel [5]