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Crude Oil Markets Continue to Recover

From fxempire.com

The West Texas Intermediate Crude Oil market is rallying a bit during the trading session on Wednesday as we continue to recover from the uptrend line bounce. That being said, we still have a long way to go before we recover completely, but at this point, it is obvious that the market still is threatened, so it will be interesting to see if we revisit the uptrend line. The demand for crude oil could be falling, as we are looking the economy is slowing down around the world. If we continue to see a lot of concerns around global growth, that is like kryptonite for oil. A lot of this is going to come down to that ... (full story)

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  • Category: Technical Analysis