Oil’s $50 Psychological Level

From vantagefx.com

We’re back after being unable to get yesterday’s morning blog out. But hey, I’m sure you managed without us! 🙂 If you switched on the TV or flicked to a news website (nobody reads a physical newspaper anymore, right?) this morning then you would have seen a mention of the Oil price hitting $50 per barrel. On Wednesday, our chart of the day featured the oil support/resistance zone. But one aspect that we didn’t speak about that has been hammered in the media is that Oil is also approaching this $50 level. One of the roundest numbers in the decimal system and one of the most significant psychological levels ... (full story)