Crude Oil Futures, cross over or bounce back from 200 SMA? CRUDE OIL FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) NYMEX:CL1! vf_investment Hello Traders! The price of Crude Oil Futures is still rising, despite the MACD being pessimistic for quite some time now and indicating bearish divergence for the third time in a row. The RSI is relatively oversold, and the recovery from April has lost almost all of its momentum. In the highly unlikely case that the price actually crosses above the 200 SMA , the uptrend would probably gain some more momentum and would reach the 50.88 support/resistance . With a moving stop loss, I would take the risk and see if it even moves up close to 64.25 again. Much more likely though the 200 SMA will act as resistance and the price will fall back down, crossing the 34.29 support/resistance , right to 19.67. Let's let the 200 SMA decide in a few days. VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas. Please, maintain proper position sizing and risk management!