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Crude attempting to break higher as impact of bearish macro drivers fade

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Crude oil prices have stormed back this week. As we go to press, Brent was trading at a good $36 per barrel while WTI was above $33.50. Both contracts have been supported first and foremost by a general improvement in risk sentiment, with equities also bouncing back buoyantly in recent days. More specific to oil, signs of a noticeable crude output decline in the US and on-going talks about an oil production freeze between some OPEC and non-OPEC countries are both helping to provide support, at

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