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Expert's opinion from FXFinPro

The price of oil may resume the fall


The price of contracts on American benchmark of oil XTI/USD yesterday showed strong growth after some consolidation around the level of 36.00. Increase was caused by statistics on oil inventories in the United States, which fell last week by 5.9 million barrels, against an expected increase of 1.4 million barrels per day. Further support for prices was the weakening of the US dollar. As a result, investors decided to fix short positions before the long weekend. According to our forecasts, the decline will continue in the near future, and after overcoming 36.00, the price can reach the levels of 35.00 and 32.00.

More detailed analytics you can see at our site https://fxfinpro.com/en/analytics

 

Thursday, 24 Dec, 2015 / 12:39

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