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Oil Markets Navigate Volatile Terrain Amid Technical Indicators
The Crude Oil markets, particularly the West Texas Intermediate and Brent Crude, have recently experienced periods of volatility, primarily triggered by their retracement from the 200-Day Exponential Moving Average. Technical traders closely monitor this critical level, making it an area of significance. While the pullback from the 200-Day EMA was somewhat expected, it is essential to recognize the notable interest surrounding the $75 level. In the case of WTI Crude Oil, the $75 level previously acted as a formidable resistance barrier within a large rectangle pattern. However, the recent breach above this level ... (full story)