WTI: Direction of the next major move unclear given elevated uncertainty – BMO
Source Fxstreet
West Texas Intermediate (WTI) continues to trade in a relatively tight band of $75 to $80 per barrel. Strategists at the Bank of Montreal analyze Oil’s outlook.
Searching for direction
Although it appears that WTI Oil is sitting comfortably at current levels for now, we suspect that it may not last.
Given crude Oil’s historic price volatility, prices may eventually break out of the current trading range, but we are admittedly not sure of the direction of the next major move given elevated uncertainty.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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West Texas Intermediate (WTI) – the benchmark US Crude Oil price – fades an Asian session spike to the $95.80-$95.85 area, or a one-and-a-half-week top, and retreats to the lower end of its daily range in the last hour.
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