Crude oil had gained a substantial strengh, and after a market holiday in the US, may continue rally. It is building a short-term chart pattern: should the height of this pattern at around $86 be broken, it may drive to $86 or higher. Supply it cutting off amid tightening from OPEC+ and accumulation from commerical traders.
Crude oil is known for sustaining momentum at peaks, so one may consider breakout of $86 as a potential idea. The major release is the weekly petroleum status report on Wednesday, Sep 6, and inflation for the US for Sep, 13th.
Crude oil is known for sustaining momentum at peaks, so one may consider breakout of $86 as a potential idea. The major release is the weekly petroleum status report on Wednesday, Sep 6, and inflation for the US for Sep, 13th.