25 May 2015
WTI retreats from $60.00
FXStreet (Edinburgh) - The price of the barrel of West Texas Intermediate is posting marginal gains on Monday, trading around the $59.80 area.
WTI clings to gains
Despite the firmer tone in the US dollar, crude oil prices are managing to remain near the critical $60.0 handle today, amidst thin volume and flat volatility due to the holidays in the US and Europe.
Greek jitters and the results from the Spanish autonomous elections on Sunday kept weighing on the euro today, propping up the demand for the US dollar.
WTI relevant levels
The barrel of WTI is up 0.18% at $59.82 with the next hurdle at $60.94 (high May 21) followed by $61.31 (high May 7) and then $61.85 (high May 13). On the downside, a break below $59.10 (low May 25) would open the door to $56.54 (low Apr. 29) and finally $56.07 (low Apr. 28).
WTI clings to gains
Despite the firmer tone in the US dollar, crude oil prices are managing to remain near the critical $60.0 handle today, amidst thin volume and flat volatility due to the holidays in the US and Europe.
Greek jitters and the results from the Spanish autonomous elections on Sunday kept weighing on the euro today, propping up the demand for the US dollar.
WTI relevant levels
The barrel of WTI is up 0.18% at $59.82 with the next hurdle at $60.94 (high May 21) followed by $61.31 (high May 7) and then $61.85 (high May 13). On the downside, a break below $59.10 (low May 25) would open the door to $56.54 (low Apr. 29) and finally $56.07 (low Apr. 28).