Crude Oil Technical Analysis – The price bounces near the bottom of the 2-year range ...Middle East

OverviewCrude oil is finally finding some footing this week as the dip-buyers might be looking forward to the Fed’s easing cycle. As a reminder, the positioning in crude oil is at a record 13 years low and the sentiment is very bearish. These factors can generally offer great contrarian opportunities. The main reason which could drive oil prices higher is the imminent Fed’s easing into a resilient economy. Lower rates generally lead to an increase in the manufacturing activity and therefore increased demand for crude oil.Moreover, the recent debate between Trump and Harris might have also decreased the risk premium of higher supply as Harris chances of winning the election accord

Hence then, the article about crude oil technical analysis the price bounces near the bottom of the 2 year range was published today ( Friday 13/09/2024 - 01:21 PM ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Crude Oil Technical Analysis – The price bounces near the bottom of the 2-year range )

Also on site :

• Serious crash shuts down multiple lanes in western suburb
• Trump vows to get Iran’s enriched uranium
• Qualcomm’s CEO is working with ‘pretty much all’ major AI players on top-secret devices—and powering OpenAI’s first push into hardware