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Crude trims losses after freeze deal collapse

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Sunday’s meeting of crude producers in Doha ended without any agreement to curb oil production. The reaction of oil prices has been logical: a six per cent gap down at the open overnight. Oil prices have since rebounded strongly off their lows, in part due to short covering. Clearly, many people were surprised that after so much talk, a 'freeze' deal, which had looked imminent last week, failed to materialise. At the end, Saudi Arabia’s position to maintain market share was the reason talks

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