Very interesting meeting today as 13 OPEC countries try so come up with the best strategy for the near future. The trade off is very difficult as oil prices continue to drop and revenues drop as well. A cut in supply in order to push price up could provoke U.S to produce more oil pushing the price back down. But on the other hand lifting supply can escalate further decline in oil prices and revenues. OPEC is responsible for more than 40% of world oil production so statements today should create fantastic Binary opportunities. Key levels for trading are resistance at 75, 78 and 82 and support found at 68 and then amazing 65$ a barrel. German DAX is reaching our medium term targets and very close to its highest high that was reached three times throughout June and July. Main reason for rise is ECB President Draghi remarks on EURO printing in the coming years, which is also the reason for eur/usd crash-Inverse Correlation. bit.ly/1tywWzw
Posted on: Thu, 27 Nov 2014 08:29:31 +0000
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