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.
Recommended Articles
Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.
Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
West Texas Intermediate (WTI) oil price opened at a bullish gap, trading around $83.50 per barrel during the Asian hours on Monday.
Gold Price Trend Forecast: Expectations of Easing US-Iran Tensions Boost Gold Prices, $4,070 Becomes Key Level for Bulls and BearsAs of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
As of the Asian session on July 21, gold prices ( XAUUSD) staged a rapid intraday rebound, rising 1.56% on the day to touch a high of $4,084.28. From a technical perspective, gold prices
Related Instrument
