Subscribe To

Price Alert Latest News Economic Calendar News

WTI Crude Oil Technical Analysis - The fakeout might be a big bearish signal

Crude Oil has been rallying strongly in the past couple of months as the prospects of more economic stimulus from China, the resilience of other advanced economies and the production cuts gave the black gold a tailwind to reach the key $83 level. The first breakout of the resistance failed though as Chinese economic data remains ugly and yesterday’s rate cuts by the PBoC may have been seen as not enough in light of the data. Looking forward, the market may even fear inflation remaining higher fo... Read More

Demo Live Account See Partner Details

Content Topics

Crude

Technical

Analysis

Fakeout

Might

Bearish

Signal

Forex

Posted: Aug 16 2023, 08:13

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.