Two Trades To Watch: EUR/GBP, WTI Crude Oil - Thursday, Apr. 22

Where next for WTI crude oil? 

The price broke out above its descending trendline and the 20 EMA crossed above the 50 EMA in a bullish signal on April 13. 

The price powered high forming what could be considered a double top reversal pattern. The 20 EMA is looking set to cross below the 50 EMA which would be another bearish signal. 

However, the price found support on its ascending trendline from April 5 and the price is attempting to push higher. 

Should the ascending trendline support hold at 61.00 then a move back towards the 62.00 the 20 & 50 EMA could be on the cards (OIL, BNO). 

 

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