SIGNAL TERMINATION – CRUDE OIL SHORT – CLOSE SIGNAL
CA analysts today are closing a short signal to a drop in oil prices with a loss. The original estimate of price developments seemed to be correct, however markets and traders now dominate more positive sentiment and mood than growing global risk.
OROGINAL TEXT: Crude Oil Short. Crude WTI oil prices are falling again due to concerns. A reviving pandemic will reduce energy demand. Oil and gasoline prices erased earlier gains and closed yesterday’s trading lower. It is a response to a stronger dollar and fears of a drop in demand in India, which is the third largest consumer of oil in the world. There are concerns that the rapid expansion of Covid-19 in India will tighten restrictions that reduce economic growth and energy demand. Weak fuel demand in India is a bearish factor in oil prices.