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Video: Outlook & Key Levels for Crude Oil as of May 15, 2019

Summary:
In the present video, Phil Carr from The Gold and Silver club discusses crude oil as of May 15, 2019. Phil starts with explaining factors that were dragging crude down recently, the trade war between the United States and China specifically. He then talks about key levels for the commodity, including the range in which crude is likely to trade this week. The  level, being a round number, is psychologically important for traders. If oil falls below it, the fall of prices will likely accelerate. Phil concludes the video with discussing factors that will affect crude later this week, like the report on US crude oil inventories on Wednesday and the US oil rig count on Friday. If you found this video useful and want to see more videos like this one or if you want to see a commodity trading

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In the present video, Phil Carr from The Gold and Silver club discusses crude oil as of May 15, 2019. Phil starts with explaining factors that were dragging crude down recently, the trade war between the United States and China specifically. He then talks about key levels for the commodity, including the range in which crude is likely to trade this week. The $60 level, being a round number, is psychologically important for traders. If oil falls below it, the fall of prices will likely accelerate. Phil concludes the video with discussing factors that will affect crude later this week, like the report on US crude oil inventories on Wednesday and the US oil rig count on Friday.

If you found this video useful and want to see more videos like this one or if you want to see a commodity trading video on some other topic, please leave your response using the form below.


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Vladimir Vyun
Vladimir is an online journalist with background in computer science and work experience in pension funds. He contributes news reports, fundamental analysis and sentiment forecasts to TopForexNews.com and CommodityBlog.com. His main specialization is the currencies of emerging economies and inter-market correlations with commodity and bond trading.

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