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Crude Oil Closed Week under 2009 Low!

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 11, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Trading position (short-term; our opinion): Short positions (with a stop-loss order at $39.12) are justified from the risk/reward perspective. On Friday, crude oil lost 1.14% as concerns over a global supply glut, the situation in China and the Middle East continued to weigh on investors sentiment. Thanks to these circumstances, light crude closed the week under the 2009 low. Does it mean that we’ll see a test of the barrier of $30 in the coming weeks? Although Friday’s Baker Hughes report

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