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Don't Believe the Crude Oil Bottom Hype

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Crude Oil price have been largely positive over the past week as WTI prices have edged up to $34.73 a barrel sparking speculation that the commodity had finally discovered a bottom. However, the oil fundamentals remain the same and the commodity must reduce in price before supply can be rebalanced. US West Texas Intermediate (WTI) stocks have largely been on a rollercoaster over the past few months as a supply glut has continued to impact prices. However, February has been largely positive for

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