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
Daily Technical Analysis by FxGrow
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="FxGrow Support, post: 113486, member: 34135"] [B][SIZE=4]FxGrow Daily Technical Analysis – 02nd Nov, 2016[/SIZE][/B] [I]By FxGrow Research & Analysis Team[/I] [B][SIZE=5]OIL PRICES SANK ON EXPECTATIONS OF AN INCREASE IN US CRUDE INVENTORIES[/SIZE][/B] [Image deleted] Chances of success for the effort to curb global oil supply are getting thinner by the day. OPEC members have a rift on share cut distribution already, add to that inviting new members like Iran, Iraq, Nigeria, and lately Russia made things worse in terms for assigning production. Iran and Iraq wants to be excused from the party, and Russia is giving vague signals on OPEC-final-deal decisions. Then there’s Brazil, whose Oil and Gas Secretary this weekend delivered yet another blow to the cartel that once held the reins to the global oil price trends. Over the week, Marcio Felix told media in Vienna that “Yes, the Brazilian production is increasing… I do not have the exact figures, but the production in Brazil will grow in the next few years, we have such plans.” Felix attended a meeting between OPEC and a number of non-OPEC producers, but as the minister noted, only “as observers”. This wasn’t OPEC’s goal, however. OPEC wanted to convince external producers to take part in the freeze/cut, to make it more meaningful. That effort failed. The atmosphere surrounding crude oil price suggests that prices to be expected to extend losses with no OPEC-cut-deal on the horizon and US efforts seeking lower price suggests that US hopes may come true after all today depending on their crude oil inventories at 2:30 PM GMT. Trend : bearish [I][SIZE=1][B]Note:[/B] This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.[/SIZE][/I] [/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…