MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Global macro overview for 18/05/2016

Global macro overview for 18/05/2016:

The crude oil Inventories data is scheduled for the release today at 02:30pm GMT. The market participants expect another draw down in stockpiles (-3,500k vs. -3,410k prior) and the price of crude remains at a 6-month high ($48.11 at the time of writing). The main factor that influenced the recent boost in crude oil prices is the Canadian oil production disruption, as a massive wildfire in northern Alberta forced the evacuation of 90,000 people. Nevertheless, oil companies restarted oil production in the region of the wildfire, but on the limited basis. That is why oil inventories are being used harder than before.

Let's now take a look at the technical picture of Crude Oil in the H4 time frame and see how high the current rally can go. We can clearly see the recent breakout higher from the congestion area with a series of higher highs and higher lows. Moreover, the price is still trading above the 21,50 and 100 moving average, so this is a clear bull trend ongoing. The next resistance for bulls is at the level of 51.00, where the daily supply zone might put a lid on the rally.

analytics573c31f983762.jpg

The material has been provided by InstaForex Company - www.instaforex.com