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Discussion in 'Company Articles' started by Irene Ivory, May 30, 2012.

  1. Irene Ivory

    Irene Ivory TradersUnion.com/IAFT Representative

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    Until oil ceased trading because of holiday in the USA, Brent quotes grew up to 108 dollars per barrel. But oil could not develop upward correction, as a result of this its cost dropped to 106.90 dollars per barrel. After trading resumed the price started to grow again and recovered almost to 108th figure.

    Worries returned on oil markets, it boils down to warming up of conflict between Iran and Western countries it can end by military actions in the region, and, respectively, to considerable contraction of oil supplies on the world market. This circumstance and the fact that the asset is technically oversold allow bulls on oil feel more confident than bears, it can lead to larger growth of Brent cost.
    Nonetheless, in IAFT analysts opinion, crisis in Eurozone, slowing down of China's economy, as well as scheduled third round of negotiations with Iran will limit growth of oil, for that reason building up of long positions on it should be performed on down with placing stop-orders.

    brent29.05.2012.

    Author: Anthony Porter, IAFT Analyst
     

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