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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 - Setting A New 13-Year Low

Crude oil is definitely not recovering. The technical structure remains clearly negative in a context of oil oversupply. Hourly support at 26.19 (20/01/2016 low) has been broken. Hourly resistance may be found at 34.82 (28/01/2016 high). Expected to show 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.

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