crudeoil - are we in a consolidation rectangle, or in an accumulation mode?
SubscribeWe commit to never sharing or selling your personal informationWest Texas Intermediate Crude Oil marketKeep in mind this is a market that is still trying to find its footing one direction or in another, but what I think we are looking at more than anything else right now is that traders are concerned about whether or not the global economy is going to be able to strengthen.
After all, central banks around the world continue to tighten monetary policy, that of course will have an influence on how economies expand or if they don’t at all.As crude oil is considered to be the “lifeblood” of the global economy, it does make a certain amount of sense that we would see traders look at it through the prism of whether or not we are going to be moving goods and services.
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