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Crude Oil Price Forecast: Holds Wedge Breakout as 50-Day Test Looms
FX Empire· 2025-09-18 20:25
Triple Breakout Raises ProspectsTuesday’s advance triggered a triple breakout: crude rose above the 20-Day moving average, cleared a small double bottom pattern, and closed above the downtrend line that marked the top of the wedge. Thursday’s close near the same trendline keeps the breakout attempt alive. A daily close at or above this line may set the stage for renewed upside momentum.Still, crude remains in a broader downtrend. Immediate resistance sits just below the falling 50-Day moving average, now at ...