Oil market updates on October 9
Heads up to the release of weekly crude oil inventories at 17:30 MT!
Oil spikes on the tweet by Iran's foreign minister
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
On H4, Brent's price has tested the $65.2 level. If this level is broken, the next support will lie at $65.76. From the downside, the first support will lie at $63.46. After that, bears will pay attention to the $63 level.
WTI has touched the resistance at $59.42. If it is broken, the next level will lie at $59.85. Bears will be focused on the downward movement to the $57.80 level (50-period SMA). The next support will lie at $57.2.
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Update for oil market
Crude oil inventories will be out at 17:30 MT time
Oil alert: wait for the inventories
Yesterday’s private survey showed larger-than-expected cut in oil output.
Latest news
The aussie may move on a jobs data
Australia will publish the level of employment change and the unemployment rate at 3:30 MT on October 17.
Market updates on October 16
The escalation of the US-China trade dispute and the Brexit uncertainties keep affecting the market. Read more!
Brexit deal is close? GBP/USD has risen by more than 140 pips!
The reports that the UK and the EU are close to complete a draft Brexit deal have pushed the British pound higher.
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