Since submission of my last analysis, on analysis of the WTI Crude Oil futures on April 14th, 2018 in the same chart pattern which I noted in my last analysis I find that although, the WTI Crude Oil futures moved upward from the decisive zone at the level of $62 but facing resistance amid the range from $67.30 inside the breakout zone.
Having a relook at the movement of WTI Crude Oil futures on April 14th, 2018 in the same chart pattern which I noted in my last analysis, the formation of the above mentioned moves is needed for more clear synthesis of the movement of WTI Crude Oil futures during the Week of April 15th, 2018.
Since the cooling down of tariff trade war, Syria issue has taken a prime issue to be resolved by international community on priority basis. Although, Syria is not a significant oil producer, but any sign of conflict in the region would trigger concern about potential disruption to crude flows across out of the Middle East which may lead to international trade disruption over the edge, especially at the time when the global economies have not yet come out of the mind blowing disturbance caused by the tariff trade war possible impacts. But the role of Russia and Japan in resolving this issue will be the driving force behind every move of the WTI Crude Oil futures during the upcoming weeks. No doubt that the WTI Crude Oil futures may remain too indecisive during the upcoming week due to growing volatility due to geopolitical concerns. On analysis of the growing geopolitical concern, I expect the following trading zones for WTI Crude Oil futures for the Week of April 15th, 2018.
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