Stock market - WTI Crude Oil Analysis on 12/11/2024 - Stepping Higher

How to trade WTI today? What are the price targets on WTI?
What economic news is impacting the crude oil market?
👉 Watch the WTI Crude Oil stock market video by Trading Central's technical analysis experts!

00:00 Crude Oil WTI Technical Analysis Today with Targets
Oil price is grinding higher, with both 20-period and 50-period moving averages being well directed.
In case the overhead resistance at $69.15 is surpassed, the next upside target...
00:44 Crude Oil WTI Stock Market and Economic News Today
US net crude oil imports may fall ...
The US will report major inflation data as well as crude-oil stockpiles

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How to read a Technical Analysis?
• Pivot Point (blue horizontal line): A key figure in technical analysis, it represents the important psychological level which, if reached, will invalidate the current strategy
It can be used as a level on which to place a stop loss
• Our preference: the scenario favored by Trading Central, materialized on the chart by a blue directional arrow
• Alternative scenario: the scenario that will be favored if the pivot point is reached
• Supports (red horizontal lines) and resistances (green horizontal lines) on all our charts
• Last: The last quoted price at the time of reporting
• The time horizon: at the top left of the graph, you will find the time horizon on which the analysis was carried out:
30 min: 1 bar on the chart represents 30 min of trading. Forecasting on a horizon of about 10 hours

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