Sale oil it is escalating
Oil prices v Tuesday continued their steep decline to levels not seen since the start of the year as growing demand concerns overshadowed the impact of limit price European Union already Russian oil. Bad data from Chinese service sectorweakening the productive activity in European Union a United States of Americaanticipation of the next increase in interest rates they parties major central banks and recovery dollar put pressure on oil prices. The message that Mask is evaluating the introduction of the fund border oil prices, gave the bulls only a brief reprieve as the price resumed its downward move in the late afternoon. It should be noted that if the price falls below 70.0 U.S. dollar for barrelcould force a response from OPEC.
The price of oil dropped below 80 dollars for barrel, which is its lowest level this year. Looking at the time lapse Q1 a dynamic break below the support level at 82.40 can be seen, which could lead to further selling. Another key support it stands at the 76.50 level U.S. dollar. Source: xStation5
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