The oil price is testing the EMA 200 moving average zone. $70.00 could be a big hurdle, from where we would start a new pullback. Conversely, rising tensions in the Middle East are supporting oil prices. Based on that we can hope for a bounce above $72.00.
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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.