Policy differences between Democrats and Republicans on energy, trade, and fiscal policy are key market driversCrude oil price outlook hinges on US dollar moves and potential shifts in energy and policyare poised for potential extreme volatility around the US election.
You can see how influential 151.95 remains for USD/JPY with the price now finding support there after being capped below it for so long previously. 150.90 and the 50-week moving average are other key support levels nearby.
The price continues to coil in a triangle pattern dating back many years, with dips continuing to be bought towards and marginally below $66 per barrel. On the topside, downtrend resistance dating back to September 2023 continues to thwart bullish breakout attempts, sitting this week around $79 per barrel.