WTI Crude Oil: Overwhelming The Technicals
Satendra Singh | Jul 22, 2017 09:42PM ET
On analysis of the movement of WTI crude oil futures price in different time zones, I find that the international news flow on cut production efforts are overwhelming all the technical equations to define any forthcoming move.
Secondly, the sudden moves in U.S. Dollar Index influence the movement of WTI crude oil futures price much more. WTI Crude Oil futures price movement will be full of volatility during the Week of July 23rd, 2017 due to major events and the forthcoming important decisions after the meeting of Ministers from the Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC producers who are going to meet in the Russian city of St. Petersburg on Monday to discuss the pact on cuts, which was reached earlier this year.
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