empty
 
 
08.12.2015 03:03 PM
Global macro overview for 08/12/2015

Global macro overview for 08/12/2015:

Crude oil had slipped to its 6-year low as the OPEC members failed to reach an agreement on production cutbacks at the meeting in Vienna on Friday. This decision will result in a huge global glut of oil, that might lead to a shortage of land-stores facilities. Moreover, the statement issued by the OPEC did not mention the production target, which means the cartel members can not reach an agreement in this particular case, so the production output levels will remain high.

The crude oil monthly chart indicats a strong technical support at the level of 33.32 and this is where the crude oil is heading before any important bounce will happen.

This image is no longer relevant

Summary
Urgency
Analytic
Sebastian Seliga
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback