WTI Crude Oil - Long - Awaiting Significant Price Action

Oct 18, 2018

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WTI Crude Oil - Long - Awaiting Significant Price Action by KQMarkets on TradingView.com

Commentary

We still see WTI Crude Oil moving higher but we are waiting for prices to pass through resistance at $55.6 to continue the upward momentum.

Yesterday US Crude oil inventories came in at 9281K vs 2495K putting downward pressure on on prices but a potential deal between the UK and EU being passed through UK parliament on Wednesday could increase optimism on the future growth of the global economy hence boosting oil prices.

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