Salmanmemon786

Oil Technical and Fundamental Views

FX:USOIL   Crude Oil (WTI)
100 3 9
Oil             Technical and Fundamental Views

The overnight gains are currently shed as investors have set aside the long term positive news of Iran's participation in Oil             Production Freeze Talks, and are focusing the short term news, i.e. the US Weekly Inventories. American Petroleum Institute showed in its survey that Crude Oil             Inventories are in a surplus which suggests weak demand in the US. While, the actual figures will be released at 19:30 ( local             time / GMT             +5).

Technically, Oil             has very strong support at 46.30 now and if it fails to hold by closing today, the next level would be 44             .50. On the upside, the potential is still there for 49.50 and break above that would open 51.
thank you for the valuable analysis..
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you Welcome Stay with us Will try to give as more as we can
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ahneo PRO Salmanmemon786
thank you for your kindness and advice..
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