Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

FxWirePro: WTI trapped in short-term bull/bear fight

We at FxWirePro, suggested the U.S. benchmark crude index, WTI would reach as high as $84 per barrel, https://www.econotimes.com/FxWirePro-Call-Review-WTI-bulls-are-back-after-OPEC-Russia-production-comments-likely-target-84-per-barrel-1433425 as it is likely to follow the lead of the more bullish counterpart Brent crude, which according to us are set to reach $95 per barrel, https://m.netdania.com/news/FxWirePro%3A%20bulls%20are%20back%20in%20Brent%20targeting%20%2495%20area%20/FxWire%20Pro%20-%20Commentary/fxWire%40NC-CT/fxwire_dl/1105584%40fxWire%40NC-CT%7B%22Syms%22%3A[]%2C%22Inf%22%3A%7B%22CTR%22%3A%22%22%7D%7D/1537863024

However, our latest calculations suggest that the WTI benchmark is trapped in Bull/Bear fight in the short term. The bulls are targeting a test of $77 area, the bears are targeting the push the index to as low as $70 per barrel area.

WTI is currently trading at $74.8 per barrel area. Since our medium term calculations are more aligned with the bulls, we expect the bulls to win the battle.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.