Forex News June 22, 2022

 

Oil

Oil continues to fall, now down more than 4% on the day

WTI crude falls below $105

It’s not looking good for oil today, as the price is dropping. There is no single cause, but a combination of factors, including profit-taking, may be a plausible explanation for the latest drop since crossing $120 earlier this month.

This is bringing some key technical levels into focus.

There has been a notable retreat since the most recent jump above $120 earlier this month, but we are now seeing price hit key technical levels, which may cause a bit more of a stir.

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