🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
29 Jul 2025
🛢️ Crude Oil Update: WTI Bearish at European Open
West Texas Intermediate (WTI) crude oil opened Tuesday's European session on a bearish note, trading lower at $66.41 per barrel. This marks a soft drop from Monday’s closing price of $66.70, signaling renewed weakness in oil markets.
Meanwhile, Brent Crude has also followed suit, currently trading at $69.32, down from its last daily close of $69.57.
📉 Key Observations:
WTI continues to lose ground amid broader macroeconomic uncertainties and thin summer liquidity.
The market is closely watching global demand signals and geopolitical tensions in the Middle East, which have yet to provide sufficient support for prices.
The recent decline follows failure to hold above key psychological levels and comes ahead of major U.S. inventory data and energy sector earnings this week.
📊 What It Means for Traders:
Price action confirms bearish momentum in the short term. With WTI failing to reclaim the $67.00 level, we may soon revisit support zones near $65.80 and $65.10. Caution is warranted for aggressive buys unless a confirmed reversal setup forms.
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