Analysis Crude Oil (WTI) - 10/12/2015
Price zone at red box under monitoring to see how price react at that price zone. All EMA's 10,50 & 200 shown that CRUDE OIL (WTI) in down trend.
Oil price are unlikely to move significantly on news from World Climate Change Conference at Paris since there no immediate action to reduce demand and current oversupply is drowning out other market signal.
The Energy Information Administration reported that crude stockpiles fell by 3.6 million barrels last week, a surprise compared to expectations of a 252,000-barrel rise. The EIA data confirmed the American Petroleum Institute's earlier report that crude inventories fell by 1.9 million barrels. Crude prices jumped as high as $38.99 a barrel, up from $37.51 on Tue., but they quickly reversed lower.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.