Brent Crude Near a Golden Moment After The Crash of 2014: ChartBy
The average price for Brent crude over the past 50 days is set to rise above its 200-day average to form a pattern known as a golden cross that’s typically seen as a sign of bullishness. That’s never happened since a global glut prompted a crash in prices in 2014. While oil is being boosted by improving refinery demand, investors must also watch for bearish signals such as the return of Canadian output and an increase in Middle East production, says Tushar Tarun Bansal, a senior analyst at industry consultant FGE.
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