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WTI Crude Oil Technical Analysis

The OPEC+ production cuts and the expectations of more economic stimulus in China following the dismal inflation numbers, gave Crude Oil enough strength to break above the key resistance zone around the $75 level. After a brief rally, the price stalled and reversed as the PBoC held off from delivering more rate cuts. This week we got a spike in the price as there was a report that Saudi Arabia wanted to extend the cuts until the end of the year, but the move was quickly faded as the report was e... Read More

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Forex

Posted: Jul 19 2023, 09:07

Author Name: forexlive

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