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Oil News: Crude Oil Futures Edge Higher as Bearish Weekly Trend Holds Firm
FX Empire· 2025-12-28 22:05
Group 1 - The 52-week moving average at $61.58 is a significant resistance level, limiting buyer activity and capping rallies since late October [1] - The swing chart indicates a downward trend with lower tops and lower bottoms, with the last swing top at $60.36 being below the 52-week moving average, suggesting continued headwinds [2] - A long-term pivot at $63.62 is identified as another potential resistance point for the market [3] Group 2 - Aggressive traders may consider entering positions on a breakout above $60.36, aiming for strong buying to surpass both the 52-week moving average and the long-term pivot [4] - A decline below $54.84 would signal a resumption of the downtrend, potentially leading to further declines towards $50.17 to $49.35 [4] - The market sentiment is mixed, with bears supported by real numbers while bulls rely on speculative factors that may not materialize [5]