Oil Price Forecast: Move Below 50-Day SMA to Keep March Range Intact
Oil Price Forecast: Move Below 50-Day SMA to Keep March Range Intact 2021-04-21 19:00:00 David Song, Strategist Oil Price Talking Points The price of oil attempts to retrace the decline from earlier this week despite an unexpected rise in US crude inventories, but crude may continue to track the March range as the Organization of the Petroleum Exporting Countries (OPEC) plan to gradually restore production over the coming months. Advertisement Oil Price Forecast: Move Below 50-Day SMA to Keep March Range Intact The price of oil struggles to hold above the 50-Day SMA ($61.54) as it pulls back ...
Source: dailyfx.com