"Crude Oil Markets Anticipate Upward Momentum in Price Forecast"
Crude oil markets have shown a gap at the beginning of the week but have since filled it, indicating a potential recovery. The West Texas Intermediate (WTI) Crude Oil market is finding support on dips, with the 200-Day EMA and 50-Day EMA acting as key support levels. If the market breaks below the 50-Day EMA, a more significant pullback to the $75 level could occur. Meanwhile, Brent markets also experienced a gap to the upside but pulled back. OPEC production cuts are expected to continue impacting supply, and if the $85 level is breached, further upside momentum could be seen, potentially reaching the $87.50 and $90 levels. However, a break below the 50-Week EMA could lead to a drop to the $80 level. Overall, the market is showing signs of a shift from a lack of demand to a lack of supply, with potential for further upward movement in the future.