USOIL (H4) : Bullish and Bullish

USOIL (H4) : Bullish and Bullish

Focusing on the FOMC's monetary policies, WTI corrects to almost $82.40 due to profit booking.

West Texas Wednesday's Asian trading hours saw an inclination in the price of intermediate oil to around $82.40 per barrel as investors booked profits and crude oil prices pulled back from their recent highs. In addition, the market has taken a cautious approach in front of the US Federal Reserve's interest rate announcement.

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Thursday's Asian session sees some dip buying in West Texas Intermediate US Crude Oil prices, which helps to partially offset yesterday's losses. The commodity is still well within striking distance of the four-month high set earlier this week, trading today in the $81.70 zone.

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