Oil News: Crude Oil Futures Edge Higher as Bearish Weekly Trend Holds Firm
FX Empire·2025-12-29 06:05
For those following the moving average, the 52-week indicator at $61.58 is applying the pressure. It has been leaning on buyers and capping rallies since late October. Until this level is overcome with conviction, solid buying volume and a change in the fundamental narrative to bullish, traders will be more inclined to sell rallies into it.Swing Chart Points to Lower Tops and Lower BottomsThe swing chart is also pointing down as evidenced by the series of lower tops and lower bottoms. The last swing top at ...