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Crude: Time for OPEC, Russia to walk the walk

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After surging higher at the end of last week, crude oil prices have started the new week on the front foot. Oil and other traders have completely shrugged off the weaker Chinese trade and Japanese GDP figures that were published overnight. With Japan’s Nikkei closing up more than 7 per cent higher and European stocks also coming back strong this morning, the market either expects to see more Bank of Japan monetary stimuli and/or is more hopeful that oil prices have bottomed out. After all,

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