Crude Oil has been gaining momentum in recent months, and if zoomed out, chart looks poised to break a 10+ year downtrend. In the back of my mind EV is still the way of the future, so crude can still be strong for a short to medium term trade. I dont trade commodities however i like the looks of OSH.asx and WPL.asx to trade oil prices.
A close above $65 would be great for a change in the long term trend. Crude has been bullish since its lows of $0.01 back in march. Currently stays above the 50MA on the daily, so can use that as a stop loss if trading it.
A close above $65 would be great for a change in the long term trend. Crude has been bullish since its lows of $0.01 back in march. Currently stays above the 50MA on the daily, so can use that as a stop loss if trading it.