Global macro overview for 15/08/2016
August 15, 2016 10:58 amVideo
Latest News
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
- What’s next for markets amid Israel-Iran tensions? – Special Report April 16, 2024
- Technical Analysis – GBPUSD pulls back into the negative zone April 16, 2024
- Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch April 16, 2024
- Technical Analysis – AUDUSD breaks the lower bound of a sideways range April 16, 2024
- Video market update for April 16, 2024 April 16, 2024
- Hot forecast for EUR/USD on April 16, 2024 April 16, 2024
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
Global macro overview for 15/08/2016:
Just last week Saudi Arabia signaled that it is ready to discuss ways of stabilizing the markets at informal OPEC talks next month. This statement alone made the crude oil to rally. In August oil has rebounded over 11%. Nevertheless, we need to note, that all OPEC countries and their business partners are all about to talk only, little or no action could follow afterwards. This is why the information should be taken rather cautiously, because the current fundamentals do not do justify higher energy prices at the moment.
Let’s now take a look at the Crude Oil technical picture in the daily time frame. The bull camp has managed to rally up to the level of 100 daily moving average around the level of 45.00 and currently the market is trading just below the important technical resistance at the level of 45.75. The next important support can be seen at the level of 39.16.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: