The Energy Space
Energy Price Outlook
The market may continue to be jostled by the unpredictable just as it has in the last few days. Wednesday's trade fell on bearish news from higher oil production figures in the weekly EIA report, but ignored support from an overall drop in inventories and growing tensions between Israel and Iran. Yesterday's trade, on the other hand, focused more on growing tensions and looked past the production build. China finally providing stimulus to its economy, but it was a move which had been expected for several weeks. The only thing we can say with certainty today is that it's Friday, the Oct gasoline and heating oil contracts will expire, and the Chicago PMI will be released. Chinese official manufacturing PMI will be out on Sunday night. Resistance in WTI will be at the 50-day MA at $93.55 while support will be at $90.00....1504 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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