oil prices are sliding on high production and storage, OPEC's deal isn't helping at all... only prolonging the decline and it did provide a nice high entry point. Anyway, I'm bearish this week trading a put, one week. NADEX traders look to sell the $46.75, end of week, at $65.
The price of crude oil increased during European trading session.It is positive sentiment about the extension of the deadline on the reduction of production between the member states and non-member OPEC.It had a positive effect on the price of this energy source.
The American Petroleum Institute will release a report on crude oil stocks.It may further affect the movement of crude oil prices.The price rose to 0.94%. Further upside with targets 48.30 and 48.50 in extension.
oil prices are going to be under pressure until supply actually begins falling, which it really hasn't, and in the US production is on the rise so no reason to think supply is going to wane. I'm trading a put, entry above $10.65, one week. NADEX traders look to sell the $50.75 at $50, end of week.
The price of crude oil began to fall as a continuation of the reaction to the rise oil wells in the US.Investors have been waiting for the report of the US Petroleum Institute to show crude inventories in the US. The price of crude oil fell by 0.38%. Under pressure with targets 49.65 and 49.25 in extension.The RSI is below its neutrality area at 50.
The price of crude oil fluctuated during Asian trading session.It reached the highest value in the last five weeks as a reaction to tensions in the Middle East and the closure of the biggest oilfield in Libya.
Investors are wary of the rise in production in the US.It currently has a negative impact on the price of this energy source. The US Institute of Petroleum will publish a report on crude oil inventories.
During Asian trading,the price of crude oil fell by 0.23%. The RSI is mixed to bullish bias. Further advance with target $53.50 and $53.75 per barrel in extension.
the geopolitical situation trumps all this week. I'm playing a call on oil, 3 days only though, so be careful. Entry below 11.15 for USO, $52.250 for WTI. NADEX traders look to buy the $53.25 at $55, end of week, take profits early if possible.
The price of crude oil fell despite positive data from China on increasing demand and information about sharp fall in US inventories.It announced that the US recorded a strong growth in production from oil shale,the highest in two years. Crude oil fell 0.11% and traded $52.59 per barrel.