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WTI Crude Oil Forecast: Finding Little in Way of Direction

From dailyforex.com

The West Texas Intermediate Crude Oil market continues to go sideways more than anything else as there is no clear narrative as to where we are going next. With the concerns about the coronavirus dwindling the amount of demand for crude oil, it does make sense that we would struggle to go higher. Furthermore, there are a whole host of reasons to think that the crude oil market may struggle. When you look at the global picture, it is very difficult to see where we go next, because we have a meeting by OPEC plus during the trading session that is going to discuss whether or not we will continue to see oil production ... (full story)

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  • Category: Technical Analysis