Crude Oil Forecast And Technical Analysis Nov 15th

We have mentioned in our article published yesterday, closing above 56.50 will carry the price towards 55.40 and 54.70.

54.79 has been tested yesterday and the Crude Oil is being priced 55.02 currently.

Crude oil prices fell yesterday as U.S. industry inventory data weighed on sentiment and markets noted a more downbeat forecast for demand in 2018 by the IEA overnight. OPEC and IEA are living in a different world. While OPEC in their monthly report expects to see a larger oil supply deficit in 2018, the International Energy Agency (IEA) sees the appetite and an oil market oversupplied in the first half of 2018. Soon we will see who is right and who is wrong.

Technicals:

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CRUDE-OIL-H4-CHART-2

Source: http://www.fxters.com/crude-oil-forecast-technical-analysis-nov-15th/

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