| On this week's Market Outlook with Exness, we take a closer look at crude oil, which gained a substantial strength, and after a market holiday in the US, may continue to rally. It is building a short-term chart pattern: should the height of this pattern at around $86 be broken, it may drive to $86 or higher. Supply it cutting off amid tightening from OPEC+ and accumulation from commercial traders. Crude oil is known for sustaining momentum at peaks, so one may consider a breakout of $86 as a potential idea. The major release is the weekly petroleum status report on Wednesday, Sep 6, and inflation for the US for Sep, 13th. |
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