07.04.2016 - Oil fall may resume after the recent correction

The price of Light Sweet crude oil showed growth during which has left the local downtrend channel. The reason for this situation was the fixation of positions after a strong decline. In addition, the market renewed speculation about a possible decision to freeze the level of oil production among a number of major oil producing countries, that will meet on April 17 in the capital of Qatar. According to our estimates, this meeting will not be able to change the situation with the imbalance of supply and demand on the market. Thus, Iran and Libya will continue to increase the level of production with the maximum possible pace. We forecast a decline in the price of US crude oil to 31 to 34 dollars per barrel in the coming weeks.

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.