"So far this year, oil has struggled to break abov
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Posted On: 04/08/2018 1:38:14 PM
"So far this year, oil has struggled to break above $67 per barrel. This price level represents the 50% Fibonacci retracement of the downward price move from June 2014 to January 2016. Looking at a monthly candle chart of oil prices, we see three months when this price level was tested, but the market failed to stay there. If market fundamentals weaken, April could shape up to be the first month in 2018 when this price level will not even be tested."
Read more: Crude Oil Price Forecast: Demand Now in Focus | Investopedia https://www.investopedia.com/investing/crude-...z5C6U3Clro
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Read more: Crude Oil Price Forecast: Demand Now in Focus | Investopedia https://www.investopedia.com/investing/crude-...z5C6U3Clro
Follow us: Investopedia on Facebook
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