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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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Crude Oil - Back To 35.00

Crude oil is declining again. Hourly resistance at 37.88 (15/12/2015 high) has been broken. While the medium-term technical structure remains clearly negative in a context of oil oversupply, there is a short-term bullish increase. Yet, oil is expected to show continued weakness.

In the long-term, crude oil has not shown signs of recovery. Strong support lies at 37.75 (24/08/2015) has been broken and 32.40 (18/08/2015 low) is now on target. Nonetheless, crude oil is holding way below its 200-Day Moving Average (setting up at 50). An very unlikely break of the resistance at 60.72 (05/07/2015) would confirm an underlying uptrend.

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