Moving Average (MA)

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Crude Oil Price Forecast: Bear Flag Trigger Awaits Further Confirmation
FX Empireยท 2025-07-15 20:54
Group 1 - The 20-Day moving average has recently turned down, indicating potential resistance around the 200-Day MA and the 20-Day MA, consistent with a bearish flag formation and a bull channel breakdown [1] - A significant support zone is identified between $65.74 and $64.50, which includes the 50-Day MA and other technical levels, suggesting that a decline below the 61.8% Fibonacci retracement will confirm a continuation of the bear flag breakdown [2] - A rally above today's high of $67.41 could lead to testing resistance around the 20-Day MA at $68.47, while a decline below today's low of $66.50 would trigger further bearish movement [3] Group 2 - The current market conditions reflect a narrow trading range, which is not typical for a solid breakdown, indicating caution among traders [3]