Crude Oil: Trading In A Bearish Bias
ICN.com | Oct 28, 2014 05:21AM ET
Crude oil is trading in a bearish bias since yesterday affected by the data related to Goldman Sachs lowering its expectations regarding oil prices, in addition to the National Iranian Oil Company's Director of International Affairs confirmation that the Organization of the Petroleum Exporting Countries (OPEC) will not reduce its production ceiling, which pushed the pair to break 80.00 then fluctuated around it now. Generally, the downside move remains valid and expected in the coming period by stabilizing below 82.10, targeting next 78.00.
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