The Dummies’ Guide to Crude Oil

The Dummies’ Guide to Crude Oil

Crude oil the Current Situation:
There are several things on the graph
Weekly overview image, there are two very significant Candles: The First Candle is a candle closing Bear 51.70 and 48.90 in the second candle on the other hand is a bullish candle with a bottom closure in 45.70 and 48.90 zone
These candles can learn a lot:
48.90 key level
Breakthrough area 51.70 to 52.30,  will lead the crude oil to 58,20$
Breaking level of 45.70 -44.90, would lead the crude oıl to   $ 39.70
Gap has not been closed in the region of 40$ dollars

crude oil chart
crude oil
Looking at the COT positions, we can see that the situation quite reminiscent June 2015
If the picture is the same, then one can expect that crude  oil is not going to break at this point
And the expected traffic, is mentioned levels shuffle
crude oil position
crude oil cot

If we look at the situation at the global level: two leading Iran and Saudi Arabia enjoy a rise in crude oil prices
Iran wants to sell oil on the market even if the price goes down, it is more flexible and needs cash, which means we should be surprised, if in fact they lower the price to increase demand.
Make the upside, we’ve already said – See Case Committee Doha
Good luck 

This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice

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