After penetrating the 80.000 USD price level on Thursday of last week WTI Crude Oil has shown sustained value and the coming days will be intriguing for speculators.Pixabay

  • WTI Crude Oil will open trading within eyesight of the 81.000 USD price early Monday.
  • Last week’s trading saw the 80.000 mark penetrated and brushed to the side on early Thursday as speculators seemingly reacted to U.S Inventory data from the previous day, which showed a shortfall of over one million barrels.
  • The U.S and global production is solid, but the price of WTI has been showing a steady flirtation with higher prices since early February.

    • The bullish trend in WTI not only passed the 80.000 USD mark on Thursday, but sustained its momentum without any volatile reversals lower. Since late in February, the 77.000 USD price has acted as rather durable support and did so again this past Tuesday and early on Wednesday. The ability of WTI Crude Oil to start marching upwards on Wednesday and then reach velocity on Thursday is noteworthy, particularly because the commodity held onto its momentum on Friday and finished the week near its highs. WTI Crude Oil Trend and Coming Tests this WeekThe last time WTI Crude Oil traded above the 80.000 USD mark was in early November, this occurred during a bearish trend in the commodity which went onto to produce a test of the 68.000 price on the 14th of December. While the bearish trend was occurring it should be noted on the 5th of October WTI Crude Oil was trading around the 82.000 ratio. This is important because it was two days before Hamas attacked Israel on the 7th of October.WTI Crude Oil touched a high of nearly 95.000 USD on the 28th of September, meaning the low that was attained was two days before the Middle East Crisis renewed and that the 82.000 mark may have been viewed as equilibrium. Crude Oil went onto test a high around 90.000 USD on 18th and 19th of October as news from the Middle East caused plenty of noise and concerns among short-term traders and produced speculative opportunities also.

  • WTI Crude Oil will open trading within eyesight of the 81.000 USD price early Monday.
  • Last week’s trading saw the 80.000 mark penetrated and brushed to the side on early Thursday as speculators seemingly reacted to U.S Inventory data from the previous day, which showed a shortfall of over one million barrels.
  • The U.S and global production is solid, but the price of WTI has been showing a steady flirtation with higher prices since early February.

    • The bullish trend in WTI not only passed the 80.000 USD mark on Thursday, but sustained its momentum without any volatile reversals lower. Since late in February, the 77.000 USD price has acted as rather durable support and did so again this past Tuesday and early on Wednesday. The ability of WTI Crude Oil to start marching upwards on Wednesday and then reach velocity on Thursday is noteworthy, particularly because the commodity held onto its momentum on Friday and finished the week near its highs. WTI Crude Oil Trend and Coming Tests this WeekThe last time WTI Crude Oil traded above the 80.000 USD mark was in early November, this occurred during a bearish trend in the commodity which went onto to produce a test of the 68.000 price on the 14th of December. While the bearish trend was occurring it should be noted on the 5th of October WTI Crude Oil was trading around the 82.000 ratio. This is important because it was two days before Hamas attacked Israel on the 7th of October.WTI Crude Oil touched a high of nearly 95.000 USD on the 28th of September, meaning the low that was attained was two days before the Middle East Crisis renewed and that the 82.000 mark may have been viewed as equilibrium. Crude Oil went onto test a high around 90.000 USD on 18th and 19th of October as news from the Middle East caused plenty of noise and concerns among short-term traders and produced speculative opportunities also.More By This Author:US Inflation Rises Unexpectedly To 3.2%Consumer Price IndexWeekly Forex Forecast – Sunday, March 10

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