"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 1 day U.S. Money Market Funds Post Highest Outflows Since 2011
  • 1 day Hedge Funds Turn Bearish On The Australian Dollar
  • 1 day Tech Unicorns Are Taking Over European Stock Markets
  • 1 day Trump Orders “Space Force” With Zero Support
  • 2 days How Long Will The Gold Rout Last?
  • 2 days The Wild Card In The New Eurozone Budget Agreement
  • 2 days Why Investors Must Look At Small-Cap Stocks
  • 2 days Banking Major Pays $42M For Misleading Customers
  • 2 days Rookie Daytrader Accidentally Makes $10 Million Profit
  • 2 days Flying Cars Are No Longer Science Fiction
  • 2 days The Internet Fights Back As EU's Controversial Copyright Bill Passes
  • 3 days Is Gold Preparing For A Reversal?
  • 3 days Tech Giants Under Fire For Facial Recognition
  • 3 days 4 Reasons Why Gold Investors Should Keep A Cool Head
  • 3 days Hackers Lift $30 Million In Crypto From South Korean Exchange
  • 3 days Tax Reform Could Push U.S. Profits Abroad
  • 3 days Pot Stocks Soar As Canada Legalizes Cannabis
  • 3 days How Chinese Investors Could Send The Tech Boom Into Overdrive
  • 4 days U.S. Market Growth Weighs On The Global Economy
  • 4 days The Trials And Tribulations Of A $4 Billion Blockchain
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…

More Info

Crude Oil - Bearish Pressure Remains

Crude continues to move lower towards support at 29.39 (26/01/2016).The technical structure remains clearly negative in a context of oil oversupply. The short-term retracement is now ending. Hourly support is given at 26.19 (20/01/2016 low). Expected to see further decline.

In the long-term, crude oil is on a sharp decline and is of course no showing any signs of recovery. Strong support at 24.82 (13/11/2002) is now on target. Crude oil is holding way below its 200-Day Moving Average (setting up at around 47). There are currently no signs that a reverse trend may happen.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment