Light Crude Oil – Continuous Contract
January 17, 2024 - by Joey Ramson
$WTIC, besides breaking above intraday, is having a tough time closing above the current downward channel it has been trading in the past few months. The RSI(14) has also been pretty steadily below 50 in that time frame. So far tensions in the Middle East/Red Sea have not been able to counteract the dampening hope of interest rate cuts by the Fed, as well as a strong dollar in regards to oil prices rising.
