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MACRO VEIW: WTI OIL UPDATE: THE RANGE NARROWS

MACRO VEIW: WTI OIL UPDATE: THE RANGE NARROWS

Crude Oil WTI NYMEX:CL1!

WTI Oil continues to trade within the tightening range that we covered earlier, with recent attempt to break above it failed - price is back at the mean.

Since our previous overview the range tightened down to 48.5-42, making the potential break from it even more powerful, as the longer the price sits within it, the more energy it has for a potential move away from the mean...