Oil prices continue to decline

24 August, 2016

Oil prices continue to decline, amid investor concerns over rising supplies from Iraq and Nigeria, as well as growth in the number of drilling rigs in the United States.

Trading recommendations

The oil market continues to drop and today traded at around $ 48.70. US Inventory data is in the focus tomorrow. Today we expect the consolidation in the range of 48.50-48.70 dollars per barrel, followed by a transition to a relative growth.


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XAUUSD going downwards

Taking that into consideration looks as the market demonstrates its intention of sell-off start soon. Resistance is hold at 1250...

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