Crude Oil could break long term downtrend.
Crude Oil has been gaining momentum in recent months, and if zoomed out, chart looks poised to break a 10+ year downtrend. In the back of my mind EV is still the way of the future, so crude can still be strong for a short to medium term trade. I dont trade commodities however i like the looks of OSH.asx and WPL.asx to trade oil prices.
A close above $65 would be great for a change in the long term trend. Crude has been bullish since its lows of $0.01 back in march. Currently stays above the 50MA on the daily, so can use that as a stop loss if trading it.
A close above $65 would be great for a change in the long term trend. Crude has been bullish since its lows of $0.01 back in march. Currently stays above the 50MA on the daily, so can use that as a stop loss if trading it.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.