Check out this week's WTI Crude Oil forecast- Trading
However, WTI Crude Oil also finished the week’s trading in the middle of its one-week results, after touching its lows for the week only a handful of hours before Friday’s session came to an end. WTI Crude Oil for the moment appears to have found a rather solid speculative equilibrium and one that is being wagered on by its market participants.
A price of nearly 73.870 was seen on Friday, which was slightly below Wednesday and Thursday’s lows around the 74.000 mark. And even though the reversal higher in WTI occurred, speculatively the commodity is still fairly close to its lows for the month of April. Thus the middle-of-the-road perception that some technical traders may have is also legitimately roaming near important depths.
The fear of recession and the actual knock-on effect from the prospect of limited manufacturing may cause a drop in demand of Crude Oil, which may create sentiment that favors less buying of WTI.The trading results of WTI Crude Oil leave an open field for speculators to gather their perceptions about direction.
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