Erased prior two weeks of consecutive losing streaks to trade a current year-to-date closing high of US$86.31 per barrel printed on last Friday, 1 September.
Price actions are oscillating within short-term and medium-term uptrend phases.
Hourly technical indicators (RSI & Bollinger Bands Bandwidth) are suggesting the risk of an imminent minor pull-back in price actions after last week’s strong upside reversal.
Watch the key short-term pivotal resistance at US$87.25 per barrel.
This is a follow-
03-09-2023 22:27 GMT
by Kelvin Wong
