Today, crude oil prices are multidirectional. Investors are uncertain.
WTI is still depreciating: the WTI futures contract for October delivery has depreciated by 0,87% down to $94,62/b. This sort of crude oil is depreciating because of the recent better-than-expected US oil inventories report.
The Brent futures for October delivery has appreciated by 0,11% up to $112,65/b.
The chart below, courtesy of , reflects the current state of affairs in the market of WTI oil. In terms of wave analysis, the price is probably forming wave 4. If the supposition is correct, we will see the price breaking below $93,9/b after short-term consolidation. The scenario will be canceled as soon as the price breaks above $95,65/b.
