Crude Oil Price Outlook – Crude Looks for Momentum in Base Building
Portfolio Pulse from
The crude oil market is experiencing sideways movement as it waits for the holiday season to pass. This period of base building is typical for this time of year.
December 23, 2024 | 5:00 pm
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NEUTRAL IMPACT
BNO, an ETF that tracks crude oil prices, is likely to experience neutral short-term price movement as the crude oil market is currently in a base-building phase, typical for the holiday season.
BNO is directly linked to crude oil prices, which are currently in a sideways pattern due to seasonal factors. This suggests a neutral impact on BNO's short-term price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80