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The price for light crude oil has passed the resistance of the 73.00/74.00 zone and the 50-day simple moving average. Next target for the price, at the start of 2022, was the 78.00/80.00 zone.
A breaking of the resistance at 78.00/80.00 could result in the commodity price reaching the 2021 high level zone at 85.00/85.40.
Meanwhile, a decline of the price might find support in the 50-day simple moving average, before looking for support in the combination of the 73.00/74.00 zone and the 200-day simple moving average.
Wed, 05 Jan 2022 10:03:59 GMT
Source: Dukascopy Bank SA
The price for light crude oil has passed the resistance of the 73.00/74.00 zone and the 50-day simple moving average. Next target for the price, at the start of 2022, was the 78.00/80.00 zone.
A breaking of the resistance at 78.00/80.00 could result in the commodity price reaching the 2021 high level zone at 85.00/85.40.
Meanwhile, a decline of the price might find support in the 50-day simple moving average, before looking for support in the combination of the 73.00/74.00 zone and the 200-day simple moving average.