The oil market has stabilized in

August 29, 2016

The oil market has stabilized in the support level of 49 dollars per barrel. At the same time moving above also failed. The news background still provides speculative driver for growth (the upcoming Energy Forum in Algeria, Iran's readiness to cooperate with OPEC). Fundamental factors are opposite to market gains (crude inventories rise in the United States).

Trading recommendations

FED position on interest rate hike will help to get out of consolidation- much will depend on US dollar market. We look forward to continuing consolidation in these ranges. $49-$51 – market range for upcoming week.

Publication source
Fort Financial Services information  Fort Financial Services reviews

February 24, 2017
Gold surges to major $1250 resistance as uncertainty prevails
Gold surged Thursday on a breakout of its previous consolidation to hit and slightly exceed major technical resistance at $1250, a level not seen since early November...
February 24, 2017
Dollar falls as peso and gold rally
The U.S. dollar was the weakest currency yesterday as surprisingly, the Mexican peso rallied, rising 1.22% over the day against the greenback...
February 23, 2017
U.S. dollar muted to Fed minutes
The U.S. dollar index was flat yesterday after the Federal Reserve published the meeting minutes from the January 31 -February 1 monetary policy meeting...

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