As markets are closely connected and knock-on effects play out, it is not surprising to see that brent is now also at a "crucial" crossroad technically.
The 50/200dma cross is commonly called the golden or death cross depending if the 50 day moving average cuts the 200 day moving average from above or below.
It usually signals a major trend change ... the next few days will be telling if oil finds support here or starts a new trip lower.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
The 50/200dma cross is commonly called the golden or death cross depending if the 50 day moving average cuts the 200 day moving average from above or below.
It usually signals a major trend change ... the next few days will be telling if oil finds support here or starts a new trip lower.
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.