Crude Oil Supported by 200-Day MA Crude Oil FuturesNYMEX_DL:CL1!konhowCrude oil reacted to this 200-day moving average, forming an inverted hammer pattern and sitting right above it, but it has since broken below. Therefore, is this 200-day moving average still valid? What we saw over the past few weeks, it could be a consolidation, a retracement, or the market taking a breather before moving higher again. We can see that current level, is near the support when the energy crisis happened on 28 Feb. We will also discuss the fundamental reasons that support this technical setup. Micro WTI Crude Oil Futures and Options. Ticker: MCL Minimum fluctuation: 0.01 per barrel = $1.00 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs https://www.tradingview.com/cme/