WTI Crude: Will Volatile Moves Define Final Direction?
Satendra Singh | Dec 10, 2017 10:57AM ET
- WTI Crude Oil price seems to face tough resistance zone from $58.28 to $59.28 before moving ahead.
- WTI Crude Oil price seems ready to face strong volatile moves during the Week of December 10th, 2017.
- Amid growing volatility, WTI Crude price will provide new opportunities for both the bears and the bulls.
- WTI Crude Oil price seems to be a good bet to go long amid the range of $53 to $53.75.
On analysis of the movement of WTI Crude price since the OPEC defined its final verdict on extension of OPEC and the group of non-OPEC countries led by Russia of their production cuts for an additional nine months through the end of 2018 and growing numbers of oil rigs and announcement of more withdrawal from U.S. Stockpiles during the last Week, I find that the WTI Crude Oil price will go through volatile moves during the Week of December 10th, 2017.
I conclude expected trading zones for the Week of December 10th, 2017.
Good Luck!
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