- The WTI advance ran out of steam after approaching $ 49.00.
- The DXY erased the losses of the day, although in the last hours it retreated.
He Oil price is trading without significant changes on Monday. The WTI does it near $ 48.00, around the levels where it closed in recent days. The price climbed hours ago to $ 48.91, reaching a one-week high, before falling back to $ 48.00.
WTI is trading in anticipation of the formal Wall Street open at $ 48.15, which is down 0.30% for the day. The advance of hours ago lost moment. The boost had been given by a rise in equity markets across the world.
The signing of the fiscal stimulus law in the US, by President Trump, and the signing of Brexit were important supports for the humor of the operators.
The increases in the price of crude oil continue to be limited by persistent concerns about a recovery in global demand for fuel. The new restrictions due to the outbreak of the coronavirus, and the new strains can have an impact on the economy. This overshadowed the optimism generated by the start of vaccination.
From a technical point of view, WTI continues to consolidate in the area of ​​recent highs, still with a bullish bias. A close above $ 48.50 would point to a test at the December peak at $ 49.30. On the downside, the strongest supports can be seen at the $ 47.50 zone and then $ 46.45.
Technical levels to follow
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