Crude Is Crashing | Forex Factory

  • Crude Is Crashing

    From zerohedge.com

    As the Dollar Index surged post-manufacturing data, WTI Crude began to lose altitude from its overnight ramp. Combined with ongoing concerns over Libya's production ramp, crude just crashed from over 55.00 to under 53.00 in minutes on heavy volume... It seems the catalyst was the USD index breaking recent highs... But now both Oil and the dollar are tumbling... But as Bloomberg notes, Libya, the holder of Africa’s biggest crude reserves, is ramping up output from its biggest oil field again after two years of internal conflict, the latest reminder of just how vulnerable OPEC’s quest to clear a global crude glut ... (full story)

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cat
Jan 3, 2017 4:05pm
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Nonsense, it's not crashing, it's just reacting to solid H4 technical resistance which I have a 58.37. Moving further out to the weekly chart, it looks set to drop back to about 50, before rising again.
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Muntu
Jan 3, 2017 2:59pm
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Lol! "When fraud is the status quo, possession is the only "law" that matters"

I don't believe this lame reason of ISM numbers. At all.
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Trader#FB82
Jan 3, 2017 1:48pm
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zzz tyler. text me on 911 (no other numbers needed) when wti hits $25
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