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WTI Crude Oil: Market Stabilizes Above $80

From dailyforex.com

The West Texas Intermediate Crude Oil market fluctuated on Tuesday as it sits just above the $80 level. When you get a strong move to the upside like we have had, the market will either go sideways to digest its gains or pull back. At this point, it looks like we are going to settle on grinding sideways and digesting the previous move. If we were to turn around and break down from here, there are multiple areas where I would anticipate seeing support, especially at the $75 level. That being said, the market also sees the $77.50 level as a potential buying opportunity as well. Crude oil continues to be very tight as ... (full story)

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  • Category: Technical Analysis