Subscribe To

Price Alert Latest News Economic Calendar News

WTI Crude Oil Technical Analysis - Buyers fail at a key resistance

The OPEC+ production cuts and the expectations of more economic stimulus in China, 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. Last week though, China has promised more stimulus, giving another boost to Crude Oil that led to a rally towards the $83 resistance. The manufacturing sector remains in recession for most advanced economies and this wee... Read More

Demo Live Account See Partner Details

Content Topics

Crude

Technical

Analysis

Buyers

Fail

Resistance

Forex

Posted: Aug 3 2023, 06:27

Author Name: forexlive

Risk Disclosure:

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
We would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. We and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of us and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. We may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.