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Crude Oil Price Analysis – Oil Looks Heavy on Monday

FXEmpire · last updated

With that being said, it’s not a huge surprise that we really haven’t made any real decisions early. The $100 level continues to be a bit of a barrier that I think a lot of people will be watching. If we can break above there, then the market can truly take off to the upside, but right now I think that’s going to be difficult. To the downside, we have the 50-day EMA sitting at $88 and we may drift towards there, assuming things don’t flare up in the Middle East again—that’s a big assumption, of course.

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