U.S. crude oil WTI futures prices closed slightly higher on last Friday (December 18). The dollar index retreated from a two-year high as the PCE report showed slowing inflation pressures, boosting expectations of two more Fed rate cuts next year.
A weak dollar makes oil cheaper for holders of other currencies, while interest rate cuts could spur economic growth and boost oil demand.
West Texas Intermediate (WTI) for February delivery rose $0.08, or 0.11%, to settle at $69.46 a barrel on the New York Mercantile Exchange, after losing 1.92% last week.
Operation suggestion: The crude oil weekly line to the lowest position of 68.76 after the market finishing, the weekly line in the position of 69.88 after the market with a lower shadow line very long bardo line line.
long near 69.2, stop loss 68.6, target 70.2-71.
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