Weekly Technical Crude Oil Price Forecast: Ignore Short-term Noise - A Multi-Decade Downtrend is Broken
Weekly Technical Crude Oil Price Forecast: Ignore Short-term Noise - A Multi-Decade Downtrend is Broken Advertisement Weekly Technical Crude Oil Price Forecast: Neutral Crude oil prices have been on fire in 2021, and in the process of their run higher, have cleared significant technical resistance. Any setbacks – including this week’s sideways price action – should be viewed in this context. Even though crude oil futures are hovering near their 52-week high, net-long positioning is not: the 52-week high in positioning came during the week of April 28, 2020, when 589,...
Source: dailyfx.com