$70 remains pivotal for WTI over the near-term

Energy
Matt Simpson financial analyst
By :  ,  Market Analyst

Volumes are depleting as we approach Christmas and the new year, which can make for some choppy trading conditions like we saw on WTI yesterday. But it can also mean that strong moves can develop should a suitable catalyst arrive as prices are easier to move with fewer participants and liquidity. In today’s video we discuss two scenarios for bulls and bears which will likely be contingent upon Omicron headlines. But, however that plays out, the resistance zone around $70 is clearly one to watch over the near-term.

 

How to start oil trading

 

 

 

How to trade with FOREX.com

Follow these easy steps to start trading with FOREX.com today:

  1. Open a Forex.com account, or log-in if you’re already a customer..
  2. Search for the pair you want to trade in our award-winning platform.
  3. Choose your position and size, and your stop and limit levels.
  4. Place the trade.

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Live Trading Webinars

Our interactive webinars, led by our industry experts, come highly recommended and can help provide your trading with the edge it needs.
Economic Calendar