OIL: at the bottom?

By | August 28, 2015

Brent crude oil prices traded in positive territory on Friday, August 28 after a sharp rise the day before the highest rate for the previous six years. The main driver of recovery in favor of strengthening investor optimism about the prospects for the world economy, as well as positive data on commercial stocks in the US underground storage.

World stock indices are actively recovering from sales on August 24 and the Energy Information Agency recorded a significant decrease in business inventories in the United States. Last week they fell by 5.5 million barrels to 450.8 million mark, despite the fact that the holiday season is coming to an end.

Quotes gained about 9% at the end of trading on Thursday and is now corrected. We believe that the trend has reached at least the medium-term lows, and contracts can try to continue the trend to around 50.00. We are looking for shopping opportunities.

oil chart
Oil chart
Trading analytics
Oil brent (BRN) – buy oil – Entry price: 46,00. Goal: 49,10. Stop loss: 44,25.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.
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