Oil - West Texas evolution - 16:20 (CET)

21 October 2009 @ 01:48 pm EDT

The West Texas crude is regaining some of the ground it lost previously, trading at 78.87 dollars per barrel at the NYMEX. The price formed a new resistance, which coincides with today's high at 79.06, while the support is still 75.00 dollars.We'll wait for the US weekly crude inventories. If the data comes in as expected, we could see the crude making a downwards correction.

Copyright 2009, Advanced Currency Markets SA, Forex Broker, All Rights Reserved

E-Newsletters

We value your privacy. Your email address will not be shared.