The Organization of the Petroleum Exporting Countries (OPEC)
The Organization of the Petroleum Exporting Countries (OPEC) is a permanent intergovernmental organization with main goal to coordinate and unify the petroleum policies of its member countries. This pertains mainly to securing fair and stable pricing in the oil market; efficient and regular supply of...
hey guys,
crude keeps growing steadily!
the price has easily gone through 18.5 - 20.5 resistance and now it turned to support.
our next key daily resistance is 28.6 - 30.6 zone.
look for a reversal formation within this area to short.
in case of a further bullish continuation, the second resistance will be 34.0 - 36.0 area.
if this zone will be reached, the...
This also needs to be understand by those who think that are trading just euro...Funds lock their positions in EURUSD with those in crude oil!
Understanding the OIL, EUR/USD Correlation
Read - chigrl1.wordpress.com
Most oil exporting countries trade assets in USD, meaning, these countries receive a significant portion of USD inflows from the proceeds of these...
