13.01.201611:06 Forex Analysis & Reviews: Global macro overview for 13/01/2016

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 13/01/2016:

The US crude oil tumbled below $30 for the first time in 12 years as the overwhelmingly bearish sentiment had pushed the prices below the last support at the level of 33.14. A continuing supply glut and fragile demand from China has erased any gains for the last four years and now these low price levels are starting to threat the survival of many US shale companies. Some analysts are warning that this is not the end of the downtrend as the price might not reverse before hitting $20 level and the world's biggest energy companies are saying that it may be many years before prices recover.

The crude oil is trading at the level of 31.27 at the time of writing. The next daily support is seen at the level of 29.88.

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.