WTI crude oil loses more than 3% and descends into areas not seen in 10 daysð
After yesterday's strong gains in the stock market, today we are seeing a change in sentiment to downward. Already after the start of the US session, Wall Street saw selling pressure, and the downward movement accelerated after UoM data showed an increase in inflation expectations. Currently, the Nasdaq (US100) is losing more than 1%, and the price has returned below the EMA100 average again. If the current sentiment does not change, a move towards the level of 10775 points, where there is support from the 61.8% Fibonacci retracement of the last upward wave, is not excluded.Â
āđāļĢāļīāđāļĄāđāļāļĢāļāļāļąāļāļāļĩāļ§āļąāļāļāļĩāđ āļŦāļĢāļ·āļ āļĨāļāļāđāļāđāļāļąāļāļāļĩāļāļāļĨāļāļāđāļāļāđāļĢāđāļāļ§āļēāļĄāđāļŠāļĩāđāļĒāļ
āđāļāļīāļāļāļąāļāļāļĩ āļĨāļāļāļāļąāļāļāļĩāđāļāđāļĄāđ āļāļēāļ§āļāđāđāļŦāļĨāļāđāļāļāļĄāļ·āļāļāļ·āļ āļāļēāļ§āļāđāđāļŦāļĨāļāđāļāļāļĄāļ·āļāļāļ·āļThe situation is similar in the oil market, where WTI is losing more than 4.5% and going down to areas not seen in 10 days. In the black gold market, demand has recently been stimulated by a production cut of 2 million barrels per day in November. Nevertheless, the market at the moment is more concerned with macro data, particularly CPI inflation, which surprised in the US with higher readings. Â
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US100 H1 interval. Source: xStation5
OIL.WTI D1 interval. Source: xStation5Â
