Doubts
about the Chinese economy continue hurting the prices of oil and the WTI comes
back down to the 32.00 zone. Stochastics are entering the over-sold zone, but
due to the fact that the MACD indicator is showing us that the bearish trend is
getting stronger, then the price may break below the 32.00 level. If the price
breaks below the 32.00 level, then the 31.00 could act as support. In case the
price retraces to the upside, the 33.00 could act as resistance.
Well spotted! I'll keep it in mind.
ReplyDeleteGoldman Sachs expects oil to head toward $20 a barrel before producers decrease output.
ReplyDeleteThe move to the downside continues.
ReplyDeleteImportant information, will keep it in mind!
ReplyDeleteOil prices will take long time to rebound. It's expected a fall by another 21%.
ReplyDeleteThank you for this interesting post.
ReplyDeleteInteresting read, oil seems unstoppable.
ReplyDeleteThere is no end to the Oil drop. Great analysis.
ReplyDelete