Pure Gasoline and Oil Forecast: WTI Under $63.50 as Merchants React to Iran Negotiations…
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WTI crude oil is hovering close to $63.03 after briefly tapping $63.96 resistance, the place the 200-period EMA capped beneficial properties. The value stays above the 50 EMA ($62.09) and an ascending trendline, hinting at underlying bullish construction.
Nevertheless, the rejection on the 200 EMA indicators hesitation. Instant assist lies at $62.07, adopted by $59.89. A sustained transfer above $63.96 is required to open the door towards $65.98 and $67.84.
Conversely, slipping beneath $62.07 might drag costs again towards $59.89. Momentum stays neutral-to-bullish, however oil wants stronger quantity to maintain the uptrend. All eyes are on whether or not USOIL can reclaim the 200 EMA—or break trendline assist to verify a shift.
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