WTI rallies to multi-day highs past $73.00 on alleviated recession fears – by pabspiovano Oil Commodities Energy WTI
Mitigated recession concerns helps the commodity’s upside.extends the ongoing recovery north of the $73.00 mark on Monday, or 4-day highs.The buying interest in the commodity gathers extra impulse and underpins the recovery sparked in the second half of last week in response to now dwindling bets of a potential slowdown in the economy.
The rebound in prices of the WTI also follows technical conditions after the WTI flirted with the oversold territory a couple of days ago. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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