11.11.201511:29 Forex Analysis & Reviews: Global macro overview for 11/11/2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Global macro overview for 11/11/2015:

Yesterday's API crude inventories data revealed another increase in the stockpiles to the level of 6.3 million barrels for the week ended November 6. Market expectations were much softer with the average expected number at the level of 500K, a nice decrease from last week reading of 2.8 million. The data showed that the global crude market is still oversupplied and lower oil prices are anticipated.

The crude is trading just above the technical support level of 43.56. The next support is seen at the level of 42.57 and the next resistance is seen at the level of 45.11.

Back to the list

Open trading account

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.