Crude Oil Rally Running Low on Gas?
WTI crude oil holds above $100, but bearish price action near resistance suggests the powerful rally may be losing momentum.
Middle East
Stay in step with market opportunities and get insights, actionable trade ideas and dedicated support.
Crude Oil Forecast WTI Prices Come Under Pressure as Middle East Risks Ease
Over the last two trading sessions, WTI crude oil has once again displayed a notable bearish bias, with prices falling nearly 6%. Part of this renewed selling pressure has been driven by recent developments in the Middle East, which have helped temporarily ease the geopolitical tensions that had supported the oil risk premium in previous weeks.
USDCAD Forecast The Loonie Remains on Shaky Ground
Over the last few sessions, the USD/CAD has seen a slight appreciation of nearly 0.3% in favor of the US dollar. However, beyond this mild bias, the broader chart picture reflects a prolonged consolidation.
Crude Oil Forecast WTI closes the week above 80 dollars
These remain relevant sessions for WTI crude oil, which has recorded an increase of just over 14% on average over the last 5 trading sessions. This behavior indicates that the buying bias remains important in the short term.