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Crude: have we seen a bottom for oil?

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Crude has recovered its earlier losses to turn slightly higher on the day. So far however there’s been little evidence of strong follow-through in momentum buying after yesterday’s sharp rally. If the buyers fail to show up now it would strongly suggest that the upsurge was probably due to short-covering and technical buying, rather than anything more concrete. But it could be that oil is finally responding to the general improvement in risk sentiment and could be about to embark on a

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