WTI Price Analysis: Juggles around $80.00 after a stellar rally – by Sagar_Dua24 Oil WTI Fed Breakouts SupportResistance
price struggles to find further direction as investors await more guidance about September’s monetary policy of the Federal Reserve .
It is worth noting that oil prices have maintained strength despite global central banks raising interest rates further. This indicates that investors believe that global interest rates are near peak and a bad time for oil is over. The Relative Strength Index has shifted into the bullish range of 60.00-80.00, which indicates that the upside momentum is active.
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