The market is cautiously optimistic about trade war headlines, with action limited as investors wait for fresher clues. EU’s manufacturing activity stagnated, services output improved just modestly in December.
WTI is rapped in a rising wedge on the hourly chart. A break below $59.21 would confirm a wedge breakdown. A close above $59.81 would imply bullish continuation. WTI hit a high of $60.45 on Friday. That was the highest level since Sept. 17.