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WTI crude oil futures break above ceiling area today

The price of WTI crude oil futures broke higher today, and in the process, moved above a key swing area ceiling between $82.43 and $83.44 (see red numbered circles). That ceiling was started way back in November 2022. The high price extended up to $84.65. The low today was at $82.67. The settlement was at $84.40, up $1.48 or 1.78%the gains came despite a larger than expected build-in inventories of 5.851 million versus expectations of 0.567M. Of course that came after a record drawdown last we... Read More

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Posted: Aug 9 2023, 18:38

Author Name: forexlive

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