Oil Prices May Decline as Risk Appetite Fades Ahead of US Open

Commodities - Energy

Crude Oil (WTI) $84.45 +$0.60 +0.72%
Prices have rebounded to support-turned-resistance at the lower boundary of a Rising Wedge formation set from early February. Risk trends remain an important driver of directional momentum, with the 20-day percent change correlation between crude and the MSCI World Stock Index now at 0.7. This hints that bearish momentum...