Commodities Analysis by Fawad Razaqzada covering: Brent Oil Futures, Crude Oil WTI Futures. Read Fawad Razaqzada's latest article on Investing.com
WTI oil futures rose slightly last week, ending a four-week slide, while Brent oil fell again.For less than $9 a month, InvestingPro's Fair Value tool helps you find which stocks to hold and which to dump at the click of a buttonoil futures eked out a small gain last week, ending a 4-week losing run. It looks like it was the hurricane disruptions that helped WTI recoup its losses for the week.
Among these regions are China and the Eurozone. While WTI closed well off its lows last week, it may now resume lower as prices test key resistance and given the renewed weakness in Chinese data.Industrial production grew at an annual pace of 4.5% in August versus 4.7% expected, and down from 5.1% in July. Fixed asset investment growth fell to the lowest level of the year at 3.4% y/y, down from 3.6% previously and below the expected 3.5% reading.
So, the path of least resistance is clearly to the downside until the charts tell us otherwise. This means that fading into short-term rallies make more sense than trying to pick the bottom until the trend changes.
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