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Crude arrives at key technical juncture ahead of stocks data

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Crude oil has now fallen for the third consecutive trading day. Despite the significantly weaker prices, sentiment remains decisively bearish, in part because of the lack any significantly bullish fundamental factors. So, the situation is still the same, which is that the oil market remains significantly oversupplied. Over the past couple of weeks, US crude stocks have risen noticeably sharply, which admittedly has been due to seasonal factors as many refineries are shut because of maintenance

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