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Expert's opinion from FXFinPro

Quotes of oil according to our forecasts will update the lows in the near future

The price of futures for Light Sweet crude oil continues to show a negative trend after last week showed growth against the backdrop of speculation about a possible consensus among OPEC and Russia on reducing the volume of oil production to stabilize oil prices. These statements have not been confirmed in OPEC, which, together with the deterioration of macroeconomic indicators in the US and China, led to a decrease in oil quotations. We maintain a medium-term negative outlook on oil targets for 28.00 and 25.00 and recommend holding short positions with a stop above 35.00.

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

Tuesday, 02 Feb, 2016 / 12:49

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