WTI Price Analysis: Oil stays defensive beyond resistance-turned-support surrounding $83.50 – by anilpanchal7 Oil WTI Technical Analysis ChartPatterns Commodities
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WTI Price Analysis: WTI jumps to multi-month amid tighter global supply and Chinese stimulus hopesWTI jumped to its highest level since November 2022 above $84.00. Tighter global supply and Chinese inflation data are fuelling Oil prices. EIA Oil stocks data came in higher than expected. On Wednesday, the West Texas Intermediate (WTI) rose to a high of $84.15, it highest level since mid-November 2022 and then settled around $83.00.
Read more »
WTI Price Analysis: Approaches $85.00 as OPEC+ aims to stabilize oil marketOil price extends recovery as hopes of further supply cuts offset China’s weak demand. Chinese firms struggle to raise the prices of goods at factory gates due to weak domestic demand and declining exports. WTI prices rebounded after discovering buying interest near the lower portion of the Rising Channel pattern.
Read more »
WTI Crude Oil Slides Towards $81.00 Amid Risk-Off Mood, Downbeat China ConcernsWTI crude oil takes offers to refresh the intraday low near $81.40 amid the early hours of Tuesday’s European session. Fears of slowing energy demand from China and a firmer US Dollar weigh on oil prices. Risk catalysts are being eyed ahead of weekly stockpile data and US inflation for clear directions.
Read more »
WTI crude oil justifies OPEC+ decision, US Dollar’s retreat to refresh four-month high near $83.00WTI crude oil justifies OPEC+ decision, US Dollar’s retreat to refresh four-month high near $83.00 – by anilpanchal7 Oil OPEC RiskAversion Inflation Commodities
Read more »
Crude Oil Futures: Door open to extra gains near termOpen interest in crude oil futures markets shrank for the second straight session on Monday, now by around 10.5K contracts according to preliminary readings from CME Group. Volume, instead, resumed the uptrend and rose by around 9.7K contracts. WTI: Upside seems capped above $83.00 Monday’s losses in WTI prices came in tandem with diminishing open interest, which removes some strength from the prospect for further decline in the very near term. So far, the 2023 top at $83.49 (April 12) continues to limit the upside for crude oil bulls.
Read more »
Crude Oil Forecast: A Bullish Outlook for Crude Oil MarketsThe Crude Oil market shows remarkable strength as it attempts to surpass the critical $82.50 resistance level, potentially leading to a move towards the coveted $85 level.
Read more »