Crude Oil Long. Yesterday’s API weekly oil statistics turned out to be significantly worse than analysts had expected. The decrease in inventories by 8 million barrels against the increase of 300 thousand, which was expected, is a dramatic difference. The situation on the markets changes every moment and every analysis already published must be worked on. For this reason, Capital Analysis analysts issue a purchase stop analysis. If the stop entry executes, the market will break through 50% of the trade channel and may seek to subdue resistance. For short speculators, this is a hedge strategy.
Graph and table source: WebTrader