Caleb Franzen: Crude oil futures move toward 200-day EMA

Caleb Franzen: Crude oil futures move toward 200-day EMA
Crude oil futures approach 200-day EMA

Caleb Franzen highlights that crude oil futures have been rejected at key exponential moving averages, specifically the 21-day, 55-day, and 200-day EMAs.

He maintains his view that crude prices are likely to fall to the 200-day EMA, acknowledging that this move has taken longer than he initially expected but reiterating his conviction in the forecast.

Franzen recently highlighted that Bitcoin remains in a downtrend after failing to clear its 200-day moving average cloud. He also noted that financial sector stocks have been underperforming the S&P 500 index according to recent trends in sector performance. These observations follow his ongoing analysis of key technical levels across different asset classes.

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