On analysis of the movements of WTI Crude Oil futures in different time frames, they look ready to achieve new heights during the upcoming week amid growing trade war optimism. No doubt that the progress on tariff trade war front to resolve the ongoing tussle between the U.S. and China would pave new direction to demand side of WTI Crude Oil. U.S. and Chinese negotiators met for over seven hours on Saturday to resolve their trade dispute and avoid an escalation of the tit-for-tat tariffs that have already disrupted global commerce, slowed the world economy and roiled financial markets. The U.S. President Donald Trump said the biggest decisions could be reached when he meets with Xi, probably in Florida next month. No doubt, that end to tariff trade tussle will lead to negate the oversupply issue of WTI Crude Oil because oil-thirsty China will come at the front once again as number one consumer.
WTI Crude Oil Futures 1 Hr. Chart – Expected Trading Zones For The Week Of February 24th, 2019
WTI Crude Oil Futures 4 Hr. Chart – Expected Trading Zones For The Week Of February 24th, 2019
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