Sarbelio Jaime Blog | IT´S OIL IN BEARISH MODE? | TalkMarkets

Sarbelio Jaime

International markets analyst
Location: Apartado postal 62, Antiguo Cuscatlan, El Salvador
Sarbelio Jaime is a Salvadoran analyst international market, trader, and lawyer. He lives in San Salvador city, El Salvador. He worked for the judicial system, financial system, central banking, and pension funds administration in El Salvador. He also worked for the National Real ...more

IT´S OIL IN BEARISH MODE?

Date: Saturday, September 24, 2016 4:40 PM EDT

So, what we could expect from the Opec´s meeting?. Well, whatever is the conclusion you have to consider the price movement after that. Obviously if we have a radical action like limit the oil production we´ll see a spike in the price maybe looking for the US$50. Actually the price is moving between US$42-US$45 per barrel as you see in this chart:

Now according to technicals indicators you see a persistent downtrend that not show any clue to change, so this let us only to watch the news and economics. That´s why is very important put attention to the movements price. We´ll see what happen in the next days.

 

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