Analysts: The fact that oil prices cannot continue to pump due to Favourable Information shows that there is a potential bearish sentiment.

On August 28, Jin10 Data reported that Forexlive analyst Arno V Venter: WTI crude oil has retraced all the gains it made on Monday due to the closure of Libyan oil fields. The current trading price is below $75, close to the low point of one standard deviation implied volatility. The oil price cannot pump or continue to pump due to Favourable Information, which I think indicates a lot of underlying sentiment. Despite the situation in Libya and the unexpected drop of 3.4 million barrels in API crude oil inventories, the oil price is still falling, which is not a good sign.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)