Crude Oil Price Forecast: Understanding Massive Volatility in Oil Markets
Crude Oil Price Analysis
WTI Crude Oil Technical Analysis shows that the West Texas Intermediate Crude Oil Market has been experiencing significant fluctuations. Trading near $67.50, this level is considered pivotal for upcoming movements. A breach above $69 may indicate more sustained bullish momentum. Conversely, strong support can be found below at $66 and $65, which is the bottom of the range established over the last couple of years.
Brent Crude Oil Technical Insights
Similar volatility is seen in the Brent markets. Having recently bounced off $70, Brent markets are also reflecting indecisiveness with potential sideways trading. Currently, the market's support appears weak, suggesting a cautious approach. The true bottom formation may occur should prices break above $72.50.
Economic Events and Market Trends
To stay informed about today's economic events, please refer to our economic calendar.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.