Stocks & Commodities V. 23:12 (98): At The Close by Jayanthi Gopalakrishnan
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Stocks & Commodities V. 23:12 (98): At The Close by Jayanthi Gopalakrishnan
Continuing from last month’s look at crude oil contracts, we did experience some easing in crude oil prices. The 40-day moving average turned down, the upward sloping trendline broke, and up until now, prices have been below the 40-day moving average. But they have yet to reach the levels I mentioned in my column last month. If you look at the chart of crude oil contracts in Figure 1, you see there was a sharp decline in prices followed by a pullback. Will prices move back up to the moving average, or will they continue falling?
Continuing from last month’s look at crude oil contracts, we did experience some easing in crude oil prices. The 40-day moving average turned down, the upward sloping trendline broke, and up until now, prices have been below the 40-day moving average. But they have yet to reach the levels I mentioned in my column last month. If you look at the chart of crude oil contracts in Figure 1, you see there was a sharp decline in prices followed by a pullback. Will prices move back up to the moving average, or will they continue falling?
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