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Crude prices arrive at major hurdles

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As we had expected, Brent oil has managed to climb all the way to the top of its bearish channel at $39.50, thus achieving its highest price level for the year. At the time of this writing, it was struggling to push further higher, most likely because of profit-taking from the buy side. Undoubtedly, a lot of people are also still fundamentally bearish on oil given that record amounts of the stuff is being produced by the OPEC and inventories in the US are still at all-time high levels. In

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