WTI key level around the $51.00 level
The USDCAD is turning lower today and the price of WTI crude oil is a contributor to the move.
The price of Crude oil is back up today and trades near the high level of $51.77. Yesterday, the price fell after weekly inventory data showed a large build of inventories BUT the price still managed to close above key support at the $51.00 area. The 50% of the range since the end of February and the 100 day MA come in with cents of the $51.00 level (see chart)