View RSS Feed

TechnoMeter

Crude Oil Price Forecast: Daily Bearish Breakdown

Rate this Entry
by , 04-21-2017 at 02:40 PM (838 Views)
      
   
Name:  brentcrud-d1-fx-choice-limited.png
Views: 141
Size:  21.5 KB

While OPEC may be winning in their battle to balance the global Oil market, it is not necessarily happening on the timeframe they would prefer. Naturally, it is not helpful that Shale production is at its highest levels since 2015. The U.S. Shale resurgence coupled with OPEC’s supply management continues to provide hope for Oil bulls. While Crude dropped ~3% on Wednesday, there is also likely to be volatility on expiration-position squaring is occurring as May WTI contract expires Thursday.

more...

Submit "Crude Oil Price Forecast: Daily Bearish Breakdown" to Google Submit "Crude Oil Price Forecast: Daily Bearish Breakdown" to del.icio.us Submit "Crude Oil Price Forecast: Daily Bearish Breakdown" to Digg Submit "Crude Oil Price Forecast: Daily Bearish Breakdown" to reddit

Comments