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Crude oil crashes

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WTI Crude Oil

The West Texas Intermediate Crude Oil market has dropped quite significantly during the trading session on Monday and has approached the $100 level at times, which is in a key region and could very well determine where we go from here. onwards. For me, the important thing here is that the market needs to stabilize above $100, or at least close above that level, in order to continue with the upward trend that it was leading.

On the other hand if we break below the 50 day moving average I think there will be a significant drop afterwards, which would end the trend. As for the candle, it is clear that it suggests that we will continue to see downward pressure in the coming days.

Video analysis of the price of crude oil 03/15/22

Brent Crude Oil

Brent has also tumbled in the trading session on Monday, sinking towards the $104 level, and now it looks as if the market is going to try to reach $100 and may even get closer to the 50 day moving average. . Here, if conditions do not change, I believe that volatility will continue to be high, but losing $100 would be very negative and could sink prices. Right now, therefore, we are at a crucial moment in which it is necessary to see whether or not the market manages to maintain the upward trend. In case of losing it we would see a collapse although I anticipate that the value hunters would soon enter the market, having many doubts about the momentum, that would be evident.

This article was originally published on FX Empire

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