(MENAFN- Daily Forex)
- WTI Crude Oil is again trading at new 7-year high prices, now well above $84 following last Friday's strong close. The short-term price action is suggesting that a bearish retracement looks likely to happen now. However, there is a strong long-term bullish trend, so it is still likely that we will see prices continue to rise again after the retracement plays out, with the next key resistance level sitting at $85.66.
Advertisement Take advantage of today's Crude Oil movements Trade Now
- After briefly trading at an all-time high above $67k last Wednesday, following the successful launch earlier in the week of the first ever Bitcoin ETF, the price fell by about 10% but is now gaining ground again.
- The Forex and stock markets are quiet and mixed, after last Friday saw the S & P 500 Index trade at an all-time high.
- Last week saw the first global weekly rise in global new confirmed coronavirus cases in two months.
- It is estimated that 48.5% of the world's population has received at least one dose of a coronavirus vaccination.
- Total confirmed new coronavirus cases worldwide stand at over 244.4 million with an average case fatality rate of 2.03%.
- The rate of new coronavirus infections appears to now be increasing most quickly in Armenia, Austria, Azerbaijan, Bahamas, Barbados, Belarus, Belgium, Bulgaria, Chile, Croatia, the Czech Republic, Denmark, the Dominican Republic, Egypt, Estonia, Georgia, Germany, Greece, Iceland, Latvia, Lithuania, Moldova, Montenegro, Netherlands, New Zealand, Romania, Russia, Serbia, Singapore , Slovakia, Slovenia, the United Kingdom , and the Ukraine.
MENAFN25102021000131011023ID1103032977
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.