TheTrade_Academ

Crude oil again at resistance.

OANDA:WTICOUSD   West Texas Oil
Tomorrow events to influience the price too.
15:30 Crude Oil Inventories 3.182M expected from Previous 5.022M.
19:00 FOMC Rate decision expected 1.75% from previous 1.50%
The Trade Academy
Crude Inventories drawdown of - 2.662M sends Oil above 65.
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If fomc rate Tomorrowland îs 1.75 dax will go down gold silver And oil up???? What do u think???
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@eduardtgv, Thank you for the question. Rate hike and positive FOMC statement should send Dollar up. EURUSD 1.22/1.2190. When rate hike is announced Gold, and Silver, perform negatively, so short is favored, it is mostly due to the USD strenght. Oil, first we have the Inventories,, but as volume is low, there might be not big movements pre FOMC unless reading results diverge a lot, on announcement and in short period of time Oil upside run may be affected from the USD strenght we may see it below 63, but OIl should reverse the movement and pattern completion going to the upside towards 65. Be careful, not recommending open positions before or immediately after such high risk announcements, you can read the results, digest the facts and then you can place your orders and open positions. :)
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eduardtgv TheTrade_Academ
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