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Suez Canal Issues keeping WTI Crude supported – US OIL Market Outlook – 26/03/2021


Prospects of wider disruption to trade with the Ever Given ship now expected to keep blocking the Suez Canal until at least Wednesday kept higher prints on WTI Crude supported, while better than expected economic data out of the US and an accelerated vaccination plan was reflected in a stronger greenback, in turn weighing on the black gold. An hourly close above $60 resistance level is needed in today’s session to favor further upside with $61.55 and the 200 period SMA as the closest target.

Support: 58.50 / 57.50
Resistance: 60 / 61.55

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/suez-canal-issues-keeping-wti-crude-supported-us-oil-market-outlook-26-03-2021
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