Crude Oil Price Forecast – Crude Oil Markets Hanging Onto an Uptrend

WTI Crude Oil Technical Analysis

The West Texas Intermediate Crude Oil market has fallen initially during the trading session on Friday to show signs of support near the 200 Day EMA, and of course the $95 level. At this point in time, the market will more likely than not continue to find value hunters, but if we break down below the hammer for the trading session on Friday, then we will almost certainly test the $90 level underneath. Looking at this market is likely that we will continue to see quite a bit of noisy trading, so you need to be nimble regardless of which direction you pick. If we break above the top of the candlestick, then it’s possible that we could go to the $100 level.

Crude Oil Prices Forecast Video for 25.07.22

Brent Crude Oil Technical Analysis

Brent markets went back and forth during the trading session on Friday as we continue to see a lot of noise just below the $105 level. The $105 level is an area that I think continues to see a lot of noisy behavior, as the market has been thrown around by a concern of lack of supply, but at the same time, we have to worry about a lack of demand. Ultimately, this is a market that I think will be difficult to get a grip on, so at this point, it’s likely that you need to keep your position size relatively tight because there is so much uncertainty. However, if we were to break above the $110 level, then it’s likely that we could go to the $115 level. On the other hand, if we break down below the $100 level, it’s likely that we go much lower.

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