WTI Crude Oil Futures Hold Gains Amid Market Uncertainty

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WTI Crude Oil Futures Hold Gains Amid Market Uncertainty


WTI Crude Oil Futures (April)

Friday’s Settlement: 67.04, up +0.68 [+1.02%]

Futures continued the bounce off technical support on Friday following Thursday’s nearly unchanged move. On Friday, a high of 68.22 was made, above the longer-term pivot pocket we’ve been highlighting.

Tariff headlines were ping-ponging back and forth between canceled, delayed and accelerated. The trading environment lacks anything close to clarity.

Tangibly, the US dollar traded much weaker last weak while the Euro went on a tear. The dollar weakness should aid in supporting oil when oversold levels get to extremes. The Chinese macro economic situation still looks rocky while the U.S. economy is teetering into recession.

Today, April Futures are higher by +0.48 [+0.72%] to 67.52

The macro environment is trading risk off this morning with U.S. equities sharply lower and bonds higher. Precious metals are flat to lower but gaining strength here into the open.

China’s retaliatory tariffs against U.S. agricultural products went into place today, China also announced that retalitory tariffs on Canadian Ag targets would be put in place as well.

Chaos and confusion continue to be the theme of this trading environment as every day brings about a flip-flop on trade policy and tariffs.

Technical Analysis:

WTI Crude Oil futures closed higher on Friday but failed to settle above our longer term pivot pocket of 67.60-68.00***. This level will serve as resistance until consecutive settlements above this level.

Today, futures are trading back up into the..

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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