Crude oil, after breaking through the downtrend line, has gained a very good momentum to nearly $83/barrel. Currently waiting for the cross of ma50 and ma200 daily (Golden cross) to confirm a long-term uptrend of crude oil => Long-term buying opportunity in the near future.
Currently, crude oil in the D1 frame is currently at the resistance area of 82 - 83. Yesterday, crude oil had a correction but immediately increased again, however, the increasing momentum on the daily frame is showing signs of weakening when the RSI tending to create lower peaks => Possibly in the next 1-2 weeks Crude oil will have a downward correction. This is an opportunity to buy crude oil products. The first watchable price zone to buy is the 75 - 77 price zone.
Currently, crude oil in the D1 frame is currently at the resistance area of 82 - 83. Yesterday, crude oil had a correction but immediately increased again, however, the increasing momentum on the daily frame is showing signs of weakening when the RSI tending to create lower peaks => Possibly in the next 1-2 weeks Crude oil will have a downward correction. This is an opportunity to buy crude oil products. The first watchable price zone to buy is the 75 - 77 price zone.