Joined Mar 2008
Status: Name real with real own way
Brent may already ready for tank next day or so , 1st signal /bo 74.52 , confirmation at 70.49 to tank towards 62. test short already taken . retest near top/now tl also normal, so may gap up even .take care , fontu
Crude oil API number is in the negative zone and the EIA number follows the API data very often. so, its very likely that we will see a negative number in EIA crude oil stock change also the previous EIA data released was 10.27M which is the at the peak of inventory capacity and if we check the historical data, 10 M seems to be the upside for crude oil inventories.
So, it's highly likely that we will see EIA crude oil inventories decreasing today and the fundamentals indicating the upside move for the crude oil is about to start soon.
I am expecting the upside around $60-62 before the OPEC comes into action.