Welcome to Admin Junkies, Guest — join our community!

Register or log in to explore all our content and services for free on Admin Junkies.

WTI oil prices are still moving above the 80 level

FXOcrypto

Reputable member
Joined
Aug 11, 2022
Messages
385
Credits
0
Yesterday's economic data, ADP Non-Farm Employment Change and Unemployment Claims, showed actual data that did not support the USD. actual ADP Non-Farm Employment Change data was 150k from the expected 163k with the previous data revision of 157k. Meanwhile, the actual Unemployment Claims data was 238k greater than the expected 234k and the previous data revision of 234k.

The latest weather forecast from the US National Hurricane Center indicates that Hurricane Beryl will weaken to a tropical storm. On the other hand, the US API reported that oil stocks fell by 9.163 million barrels after a slight increase of 0.91 million barrels last week.

Today we see that the price of WTI oil is still moving above the price level of 80, yesterday the price fell to a low of 81.85 but rose again to above 83.00 level price

WTI oil price is now moving below the upper band line. Yesterday, even though the price formed a bullish candlestick, the price movement was still within the previous range.

Bollinger bands appear to expand in the daily timeframe reflecting high market volatility.

MA 50 below the middle band line draws a flat channel crossing the middle band line from the upside. Meanwhile, the RSI points to level 65, which means the price is moving above the uptrend level.

View attachment 7162
 
Advertisement Placeholder

Log in or register to unlock full forum benefits!

Log in or register to unlock full forum benefits!

Register

Register on Admin Junkies completely free.

Register now
Log in

If you have an account, please log in

Log in

Would You Rather #9

  • Start a forum in a popular but highly competitive niche

    Votes: 9 27.3%
  • Initiate a forum within a limited-known niche with zero competition

    Votes: 24 72.7%
Win this space by entering the Website of The Month Contest

Theme editor

Theme customizations

Graphic Backgrounds

Granite Backgrounds