Crude Oil Prices Rise with DAX Index and S&P 500

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Written By: Alejandro Zambrano

Oct 09, 2019, 11:33 BST 11:33

Crude Oil Price

WTI crude oil prices are up today as global risk appetite returns to the markets, with S&P 500 futures and DAX index rising at the same time as crude oil prices.

Looking beyond the near-term price action in crude oil prices, the risk-reward ratio favors the bulls following a few weeks of extreme volatility.

A few weeks ago, crude oil prices rose sharply on the news of Saudi Arabia crude oil facilities been attacked, then they tumbled by an even higher magnitude. However, as the price neared, the August low of $50.50 crude oil prices found support as the prices reached oversold levels.

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Written By: Alejandro Zambrano

Alejandro Zambrano combines extensive professional experience and a pragmatic attitude to trading, building clients’ understanding of the markets and the rationale behind investing. Zambrano was the Chief Market Strategist of the FCA regulated broker, Amana Capital. Prior to that, he was also the Head Analyst at FXCM’s London research desk. Interact with Alex via Twitter at @AlexFX00.