London-based foreign exchange broker ActiveTrades said it did not believe that WTI oil, after going up for a few days and staying between $58 and $58.50 per barrel on February 11, was currently strong enough for a further rise.
However, the price might get a boost from potential future stimulus measures by central banks, according to ActivTrades chief analyst Carlo Alberto De Casa.
De Casa also made a bullish long-term forecast for gold, although the metal’s price did not climb above $1,850 per ounce on February 11 because, he argued, traders had taken a wait-and-see position.
Sorry, comments are closed for this post.