WTI Crude Oil Forecast: Showing Signs of Hesitation

  • The West Texas Intermediate Crude Oil market initially tried to rally on Tuesday but gave back gains as we got a little bit too close to the $100 level.
  • The market is also far too close to the 200-day EMA, so it’s likely to see a lot of noisy behavior.
  • We have the Federal Reserve meeting on Wednesday that is going to have a major influence on where we go next when it comes to risk appetite, so we need to pay close attention to how the market behaves the van.

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