Crude oil limped into the weekend. Find out why: Forex Trading
SubscribeWe commit to never sharing or selling your personal informationmarket did very little during the trading session on Friday, as we have seen a bit of non-volatile trading for a couple of days in a row.
It’s interesting that we are seeing it right here, because it looks like we are at the top of short-term consolidation range. After all, the market will then possibly see a little bit of selling pressure, and therefore it’s likely that we will continue to see the range play out.Keep in mind that a lot of people are hanging around the markets and either focusing on the fact that OPEC has cut production by 2 million barrels a day or focusing on the fact that the global economy is slowing down.
At this point, it looks like there’s a lot of confusion due to both of those things at the same time, and therefore I think it does make a lot of sense that we continue to see more sideways action than anything else.However, it’s also worth noting that we recently broke through a trendline, and our focus is on going sideways.
Keep in mind that crude oil is a situation right now where it is trying to figure out whether people are going to continue to see global growth, or if we are going to see a situation where there’s just not enough demand because everything is slowing down. The next couple of weeks could be crucial, as we are trying to figure out whether the market has finally bottomed, or if it’s just a pause on a much lower move.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man shot while leaving Halloween party in College West neighborhoodA 21-year-old man was shot in the shoulder while leaving a Halloween party in the College West neighborhood early Saturday morning.
Read more »
Kanye West Doubles Down on Antisemitism and Says He’s Been ‘Beat to a Pulp’ on InstagramKanye West has returned to Instagram to complain that “the unknown powers” are trying to destroy his life after he went on several antisemitic rants, doubling down on his thinly veiled hate comments.
Read more »
Lawsuit challenges West Anchorage legislative candidate’s residencyDemocrat Jennie Armstrong’s campaign said the lawsuit is an attempt to disrupt her run for office and “it won’t work.”
Read more »
2022 likely to be deadliest year for Palestinians in the occupied West Bank, U.N. says2022 is on course to be the deadliest year for Palestinians in the occupied West Bank since the U.N. started tracking fatalities in 2005, according to the U.N. Mideast envoy.
Read more »
Why Kanye West Being Dropped by Business Partners Isn’t That SimpleAdidas and Gap deals may be the hardest to unwind given complicated questions surrounding IP ownership despite the music star's business free fall following his antisemitic comments.
Read more »
West Philly unveiled a shipping-container shopping mall in a unique effort to boost small businessesTwenty small-business owners — all of whom are people of color, many of them women — set up shop in refurbished shipping containers. John Fetterman also stopped by briefly. It's a first for Philly.
Read more »