WTI Crude Oil Forecast: Struggles With Moving Averages

At this point, it seems like there are a lot of questions about where we are going next, and therefore I think we will continue to see a lot of back and forth in choppy behavior.

The West Texas Intermediate Crude Oil market has fallen during the session on Tuesday as we continue to see the 200-Day EMA and the 50-Day EMA both offer resistance. In fact, we had gotten rather close to forming a so-called “death cross”, when the Monday session shot higher. The market is likely to continue seeing a lot of money, and the fact that we have the employment numbers coming out on Friday does suggest the fact that we are going to see a lot of volatility late in this week.

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