Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis by Alpari
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Alpari, post: 105263, member: 34756"] [SIZE=6][B]Oil Market: 29 June – 6 July[/B][/SIZE] Last week, WTI futures plunged 6.4% to $46.31 per barrel. On 6th July the price of WTI crude oil reached a local bottom of $45.91 per barrel. The short-term downtrend was broken earlier, on 5th July, when the price dropped 4%. On 6th July the crude price was continuing to decline. The weekly trend of Brent future contracts was the same as the WTI trend. The price of Brent declined 5.1% in the same period to $47.48/bbl. The price reached a local bottom ($47.01/bbl) on 6th July. On 22nd June, the price of Brent reached $51 per barrel, however, the price failed to remain above this level. The petroleum market data in the US was ambiguous. Commercial oil stocks in the US fell by 4 million barrels, while the market expected the drop to be more than by 2.38 million barrels. However, the number of active drilling rigs rose by 11 units to 341 rigs. That information could be understood as an indicator of the future growth of oil production (especially of shale oil production) in the US. We expect the price of Brent at the next week at the range of 46.7-49.5 USD per barrel, WTI could remain in a range of 45-46 USD per barrel. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…