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Average Volume 10 day Beta - 1 Year Price - 52 Week High Price - 52 Week Low Enterprise Value, FQ Market Cap - Basic Number of Employees Number of Shareholders Dividends Paid, FY Dividends per Share, FY Expected Annual Dividends Net Margin, TTM Gross Margin, TTM Operating Margin, TTM Unlock our Q2 18 forecast to learn what will drive trends for Crude Oil in a volatile Q2.
The chart above, one that recently caught my eye on the Bloomberg Terminal for Kyoungwha Kim, shows the rising demand from China via imports blue area and the American crude consumption in orange.
Therefore, while there is likely a risk-premium backed into the price that could deflate if the Iran accord is kept that could take prices a bit lower, it is also fair to say that the aggregate drop of OPEC supply and rising demand are helping the fundamental argument for a validated bull market. Calling tops makes for much better marketing than it does trading.
In other words, the Fibonacci expansion target was just tagged. Not familiar with Ichimoku? I created a free guide for you here.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Oil - US Crude prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil - US Crude-bullish contrarian trading bias.
New to FX trading? No worries, we created this guide just for you. Are you looking for longer-term analysis on Crude Oil and other popular markets? Traders can also stay up with near-term positioning via our popular and free IG Client Sentiment Indicator. DailyFX offers a surplus of helpful trading tools, indicators, and resources to help traders.
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