1. Hello Guest Click here to check FX Binary Point Financial Directory

Crude oil drops more than 4%

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - On a low volume session, crude oil prices are falling sharply. The WTI barrel is losing more than 4%, after accelerating the decline during the US session.

    The barrel opened the day trading near the $50 area and recently bottomed at $47.20, the lowest level since Tuesday. It remains near the lows moving considerably away from last week highs.

    The most immediate support it the $47.00 zone, that limited the upside during late September; last week the price soared when it managed to climb above.

    Equities up

    In Wall Street, main indexes are now in positive territory. The Dow Jones is up 0.25% and the Nasdaq 0.15%. As crude oil drops 4.40%, gold is rising almost 1%. No fundamental data of impact was released today. The next relevant report will be Chinese trade data during Tuesday’s Asian session.
    For more information, read our latest forex news.

Share This Page