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Commodities Briefing - Categorized | Oil, Price Watch more

Crude oil price change of trend or just a correction?

Posted on 15 October 2013

The previous week was quite hard for the oil bulls. Light crude lost almost 2% and slipped to its lowest level since July 3. When we take a closer look at the chart of crude oil we clearly see that the price of light crude remains in the narrow range between $100 and $104 per barrel.
Since the beginning of the month oil bulls and bears have pushed it above or below the 38.2% Fibonacci retracement level, however, neither the buyers nor the sellers have had enough strength to win and trigger another bigger move………………………………………..Full Article: Source


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VRS - who has written 39433 posts on Opalesque Commodities Briefing.


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