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FTSE rallies on oil

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FTSE rallies on oil Ipek Ozkardeskaya WTI and Brent initially bounced 5% in the run up to the OPEC meeting and just as quickly pared said gains as the Saudi Oil Minister said that they agreed to freeze the output at January levels. The most competitive oil producers are finally started showing the white flag but with a large inventory build expected this week and no real change in fundamentals WT is back testing the $30/bbl marker. Apparently, oil below $30 a barrel is weighing significantly,

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