WTI Crude Oil finished futures trading below $70 on Friday, but the commodity and energy sector look set to face an immediate test of sentiment early when Monday begins.
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Gold, the Nasdaq 100 and major currency pairs continue trading around important support and resistance levels, keeping market participants focused on price behavior.
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WTI crude oil moved higher after Iran closed the Strait of Hormuz. Markets are reassessing global supply risks amid geopolitical tensions and declining inventories.
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WTI Crude Oil has gone into this weekend near 82.630, this after touching highs around the 92.000 mark on Wednesday, and having started last Monday’s values with a drive higher that toyed with the 93.500 level.
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WTI Crude Oil futures went into this weekend near the $88.280 ratio, this after touching a high near $94.840 on early Wednesday. These two prices and other considerations set the stage for a potentially curious week of trading to come.
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