Forex | Forex Strategies | Oil Trading Analysis (28/08/2009 07:58:23)

Oil Trading Analysis

Daily oil prices rebounded yesterday, reversing two days of losses as buoyant US equities were taken by oil traders as the leading indicator to future energy demand.  In addition reports that the US economy had shrunk  less than expected with the release of  preliminary q/q GDP coming in -1.0 against a forecast of -1.4% all added to the positive sentiment for crude oil.   From a technical perspective and as expected following the narrow spread down bar of Wednesday,


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