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Oil prices breaking below multi year lows

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    With another light calendar, much of the FX price action has been a continuation of the fallout from last week’s OPEC meeting. WTI and Brent both saw significant weakness throughout the session with futures breaking below USD 37/bbl and USD 40/bbl respectively to reach fresh multi year lows. In line with the softness in energy prices, the likes of CAD, NOK and MXN all saw significant softness against the USD, with USD/NOK reaching its lowest level since March 2002, at which time WTI futures

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