China Reopening Arc - Commodities (WTIUSD) could rise further
- The reopening of China could lead to increased demand and prices for commodities, oil, and certain currencies.
- WTI crude oil, gold, and silver in the U.S. dollar market may be particularly affected.
- Traders and investors should keep an eye on these developments and consider how they may impact their positions.
On the technical side, we saw a false breakout to the downside. This bear trap could signal for further upside in the coming weeks.
Commentaire:
Re-establish a new bottom. Will take a long at 72.3 and stop loss at 70 instead
Commentaire:
WTIUSD continues to range between 72.5 to 81.0 price region. Will look for long trades at 72.5-73.0 and take profit at 81.