economic calendar<\/a>.<\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Long-Term Support Being Tested Recent support around $65.50 has some significance as it is near support from September of last year at $65.65, prior to the current decline, was the low price for crude oil since May of 2023. Following the 2023 low traded price, crude oil rallied to a peak of $95.50 before progressing lower and establishing a slow downtrend of lower swing highs and lower swing lows. Therefore, the drop to $65.50 recently established a slightly new low for the bear trend. There are reasons to believe that support may be retained at that low and lead to at least a bounce before being challenged again. For one, the bearish correction from the $80.76 mid-January high was the deepest bearish correction of the prior four larger corrections, but not by much. There was an 18.3% decline from an August swing high, which was the largest decline of the four. Rally Above 20-Day MA Would Show Strength Although a bullish signal will be generated on a breakout of the double bottom, a potentially significant resistance zone is slightly higher from around $68.74 to $68.82. However, the 20-Day MA trend indicator, currently at $69.26, marks a more significant price area, along with a downtrend line. Since it is falling the 20-Day line may be within the price zone by the time it is approached. Subsequently, a lower swing high is at $70.81. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":38705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-38704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/38704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=38704"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/38704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/38705"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=38704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=38704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=38704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}