Trading Conditions
Products
Tools
Global macro overview for 28/08/2015:
Yesterday, crude bounced from the support line and rallied almost 10%, the biggest one-day relief rally since March 2009. The main catalyst to rally was the good US data. The Gross Domestic Product for second quarter grew at a 3.7% annualized rate, beating the expectations. Moreover, the S&P500 index has reached the highest two-day since 2009 and the Chinese shares reversed a five day losing streak as well.
The technical picture of crude oil confirms the corrective upside cycle with the first target at the 23% Fibo level might be considered as accomplished. The nearest support is seen at the level of 41.45.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.