(VIANEWS) – As there are many concerns regarding growth, the West Texas Intermediate Crude Oil Market fell slightly during Wednesday’s trading session. The ADP numbers for the trading session were much worse than expected, and inventory data has shown that there may be a slight drop in oil demand. It is therefore not surprising that we formed the third consecutive red candlestick, well below the 50 day EMA.
DailyForex reports that $70 has been broken, opening up possibilities for a move to $65 This is an area that we’ve bounced back from before, so don’t be surprised if the market feels this supportive.
Today’s last reported volume for Crude Oil is 478379, 100% below its average volume of 51045054512.57.
Crude Oil Range
Regarding Crude Oil’s daily highs and lows, it’s 0.795% up from its trailing 24 hours low of $67.93 and 0.484% up from its trailing 24 hours high of $68.14.
Crude Oil’s last week, last month’s, and last quarter’s current volatility was a positive 0.26%, a negative 0.04%, and a positive 1.24%, respectively.
Crude Oil’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.41% (last week), 1.64% (last month), and 1.24% (last quarter), respectively.
Commodity Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Crude Oil’s commodity is considered to be overbought (>=80).
Last news about Crude Oil (CL)
WTI crude oil forecast: market continues to plow higher – 02 August 2021. According to DailyForex on Monday, 2 August, “The West Texas Intermediate Crude Oil market continued to show signs of strength during the trading session on Friday as it tried to break towards the $75 level. ”
WTI crude oil forecast: market breaks towards 50-day EMA – 03 August 2021. According to DailyForex on Tuesday, 3 August, “The West Texas Intermediate Crude Oil market fell rather hard during the trading session on Monday as we have gotten less-than-enthusiastic PMI figures from China. ”
WTI crude oil forecast: market continues to break down – 05 August 2021. According to DailyForex on Thursday, 5 August, “The West Texas Intermediate Crude Oil market fell a bit during the trading session on Wednesday again as there are a lot of concerns about growth. ”
More news about Crude Oil (CL).