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WTI Crude Oil: Weekly Forecast 17th December - 23rd December
WTI Crude Oil fell to lows that challenged the 68.000 USD mark early on Wednesday of last week, the last time this price level for the commodity had been seen was in the last week of June 2023. However, as WTI Crude Oil slumped at this depth a reversal higher began to erupt. The move higher in the commodity may have been sparked technically by the lower price, but it seems the sudden burst upwards occurred as the U.S Federal Reserve released its FOMC Statement. Traders of WTI Crude Oil are sophisticated and the acknowledgment from the Fed that it has become neutral and seemingly dovish regarding future interest rate ... (full story)