{"id":3092,"date":"2023-05-26T14:01:07","date_gmt":"2023-05-26T14:01:07","guid":{"rendered":"https:\/\/blog.trive.com\/?p=3092"},"modified":"2023-05-26T14:01:09","modified_gmt":"2023-05-26T14:01:09","slug":"wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data","status":"publish","type":"post","link":"https:\/\/blog.trive.com\/es\/comercio\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/","title":{"rendered":"WTI Crude Oil Futures Wobble On Stronger U.S. Economic Data"},"content":{"rendered":"<p>WTI Crude Oil Futures (NYMEX: CL) shed 3.38% in Thursday&#8217;s trading session following the release of better-than-expected U.S. economic data. Despite crude oil inventories plummeting by over 12.4M barrels against consensus, indicating resilience in demand, the market priced in a higher chance of a Fed Rate hike in the upcoming meeting, weighing down on risk assets.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Today, the U.S. releases the Core PCE Index, the Federal Reserve\u2019s preferred inflation gauge. Inflation is projected to remain sticky, with a 0.3% gain matching the prior month&#8217;s reading.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>T\u00e9cnicos<\/strong>&nbsp;<\/p>\n\n\n\n<p>The WTI Crude Oil Futures have recovered from a steep selloff earlier in the month but remain subdued in a downtrend, with price trading below the 100-day moving average. The market has held resistance steady at the $74.02 per barrel (BLL) level, while higher lows have been established to form an ascending triangle pattern. Support was established at the $63.65 BLL level following the market&#8217;s rejection of the year-to-date low.&nbsp;&nbsp;<\/p>\n\n\n\n<p>With pressure building up, represented by narrower highs and lows, bulls and bears could be in contention to take the price in one direction if one side gives in. A high volume breakout above the pattern could indicate that bullish momentum built up beyond that of bears. Bulls will likely consider the $76.90 BLL level a probable point of interest.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Alternatively, if bearish traders fight to maintain the downtrend, a breakdown below the ascending triangle pattern could validate a move lower. The $63.65 BLL level will likely be the next probable target for a bear case.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"591\" src=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/image-6-1024x591.png\" alt=\"\" class=\"wp-image-3093\" srcset=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/image-6-1024x591.png 1024w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/image-6-300x173.png 300w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/image-6-768x443.png 768w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/image-6-1536x887.png 1536w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/image-6-18x10.png 18w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/image-6.png 1561w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Resumen<\/strong>&nbsp;<\/p>\n\n\n\n<p>Given that the OPEC+ oil output cuts are in place with the potential for more in the upcoming June 4<sup>el<\/sup> OPEC+ meeting, the WTI Crude Oil prices will likely be supported above the $63.65 BLL level. However, with most analysts and global market commentators weary of a potential recession imminent, there could be the likelihood of further downside.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Fuentes: Reuters, TradingView&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>WTI Crude Oil Futures (NYMEX: CL) shed 3.38% in Thursday&#8217;s trading session following the release of better-than-expected U.S. economic data. Despite crude oil inventories plummeting by over 12.4M barrels against consensus, indicating resilience in demand, the market priced in a higher chance of a Fed Rate hike in the upcoming meeting, weighing down on risk [&hellip;]<\/p>","protected":false},"author":6,"featured_media":2752,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>WTI Crude Oil Futures Wobble On Stronger U.S. Economic Data - Trive Blog<\/title>\n<meta name=\"description\" content=\"WTI Crude Oil Futures (NYMEX: CL) shed 3.38% in Thursday&#039;s trading session following the release of better-than-expected U.S. economic data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.trive.com\/es\/comercio\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WTI Crude Oil Futures Wobble On Stronger U.S. Economic Data\" \/>\n<meta property=\"og:description\" content=\"WTI Crude Oil Futures (NYMEX: CL) shed 3.38% in Thursday&#039;s trading session following the release of better-than-expected U.S. economic data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.trive.com\/es\/comercio\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/\" \/>\n<meta property=\"og:site_name\" content=\"Trive Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-26T14:01:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-26T14:01:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/THUMB-WTI.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"WTI Crude Oil Futures Wobble On Stronger U.S. Economic Data\" \/>\n<meta name=\"twitter:description\" content=\"WTI Crude Oil Futures (NYMEX: CL) shed 3.38% in Thursday&#039;s trading session following the release of better-than-expected U.S. economic data.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/05\/THUMB-WTI.png\" \/>\n<meta name=\"twitter:label1\" content=\"Escrito por\" \/>\n\t<meta name=\"twitter:data1\" content=\"\" \/>\n\t<meta name=\"twitter:label2\" content=\"Tiempo de lectura\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutos\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.trive.com\/trading\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"WTI Crude Oil Futures Wobble On Stronger U.S. Economic Data\",\"datePublished\":\"2023-05-26T14:01:07+00:00\",\"dateModified\":\"2023-05-26T14:01:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.trive.com\/trading\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/\"},\"wordCount\":337,\"publisher\":{\"@id\":\"https:\/\/blog.trive.com\/#organization\"},\"articleSection\":[\"Trading\"],\"inLanguage\":\"es\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.trive.com\/trading\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/\",\"url\":\"https:\/\/blog.trive.com\/trading\/wti-crude-oil-futures-wobble-on-stronger-u-s-economic-data\/\",\"name\":\"WTI Crude Oil Futures Wobble On Stronger U.S. Economic Data - 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