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Oil climbs for the ninth consecutive day

Oil is getting harder to ignore, both as a macro factor and for its own sake. WTI settled up 85-cents today to $87.54. It's another high settlement dating back to November.The breakout from the 2023 range has been confirmed now and the only question is where it tops out. Obviously with 9 days of gains, there are some overbought conditions so a return to $85 would be healthy. However whenever profit taking seems to hit, there are fresh bids. Even today with the US dollar strengthening, oil rallie... Read More

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Climbs

Ninth

Consecutive

Forex

Posted: Sep 6 2023, 18:47

Author Name: forexlive

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