Late last summer I made a few comments about $WTIC oil struggling to get above its 250 day Exp. Mov.Average. After going sideways for a few months, it finally crossed the 250 EMA in Nov. Now the USO oil fund is looking to cross that EMA for the 2nd time in 4 days. Next we would like to see the 8 EMA also cross above the 250; it's been below it for about 13 months.
https://schrts.co/ZJEJxFhp
Of course, when that happens, it can go sideways for months on end. Hoping the summer gets a lot of people back on the roads. My gut is telling me, with the predicted transition to EV's this might be the
one of oil's last hurrahs.
