6 Oct 2020
WTI Price Analysis: Bulls fall on their backfeet
- WTI bears looking as though they could be back in the game.
- The price moves in on the key support area.
The price of oil is on the backfoot once again following the oil inventory numbers as follows:
- Crude+ 0.951MM
The markets have been hit today by concerns that there will be no stimulus ahead of the US elections and this has thrown the bulls off their track in energy markets.
The 4-hour time frame is looking increasingly less bullish:
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Show on the 15- mn chart, the price of oil is sliding on the oil inventory data:
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