Crude Oil Forecast And Technical Analysis Dec 6th

Crude Oil Forecast And Technical Analysis Dec 6th

Latest Fundamentals:

Refined product inventories in the United States rose in what the market interpreted as a sign of lacklustre demand.

The American Petroleum Institute (API) late on Tuesday that showed a 9.2 million barrel rise in gasoline stocks in the week to Dec. 1, and an increase of 4.3 million barrels in inventories of distillates, which include diesel and heating oil.

However, OPEC’s supply cut is supporting the prices.

Technical Analysis:
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CRUDE-OIL-H4-CHART

Source: http://www.fxters.com/crude-oil-forecast-technical-analysis-dec-6th/

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