WTI oil futures (March delivery) have been stuck in a prolonged downtrend since June, posting a fresh one year-low of 70.30 in December. In the short-term, the commodity has begun another round of weakness, with the price dropping beneath its 50-day simple moving average (SMA). The momentum indicators currently suggest that selling pressures are intensifying. Specifically, the […]
The post WTI Oil Futures Retreat Below 50-day SMA appeared first on Action Forex.
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