The market is so bright that you have to keep up the demand.
The West Texas Medium Crude Oil Market fell slightly on Friday, but as you can see, we turned to show signs of strength again. The market is currently hovering around $ 72. The market has recently broken above the main downtrend, indicating that bullshit is beginning to return to the market. The 50-day EMA is broken at that level, so this is an upward market.
Looking at this chart, I think we can go to the $ 74 level where we see a lot of sales pressure. The market has been severely disrupted, and I think it’s only a matter of time before we reach the heights again. The fact that we made a small hammer during the trading session shows that we continue to see the price hikers jumping into this market.
If the stock market falls below the hammer on Friday, then we could move towards the 50-day EMA, and there is a good chance of seeing a lot of speed jumping back into the market. As long as demand for crude oil remains to some extent, this is a market that should be high.
Interestingly, the crude oil market is showing signs of life, but the US dollar is also strengthening. Normally these things move perfectly, so it’s a little weird to see how this happens. I think this is a very strong signal for the crude oil market and You have to take advantage of the fact that the market is so bright that demand is going to continue at a higher price. If we can hit the recent high of $ 77.50, we could rise to that point. I don’t want to try to shorten this market right now, until we break down at least $ 67.50.
