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WTI giving back some of Thursday's gains, tests below $88.00

From fxstreet.com

West Texas Intermediary (WTI) Crude Oil prices are on the lower side for Friday, albeit slightly as ongoing geopolitical tensions in the Gaza Strip threaten to spill over and global production continues to flub barrel demand. Thursday's run up the charts in spot Crude prices saw a mild extension into early Friday, sending WTI into $89.64 to retest its highest bids in almost three trading weeks before a relief pullback pinged just south of $88.00 per barrel. Price action is now firming up in the midrange with Crude Oil bids testing back and forth near the $88.00 neighborhood as energies traders weigh their options ... (full story)

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  • Category: Technical Analysis