Saudi-Russian proposal to cap Oil output didn’t find adequate support from Iran.
Crude Oil futures surrendered their prior gains during European session on Tuesday.
The Euro has returned to the previously broken daily ascending channel.
Oil rig counts in the US continue to decline, boosting Oil prices.
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Unprecedented growth of consumer lending in China raises concerns of the country’s regulator.
The rout on equity markets because of falling has Oil resumed today, sending Yen to a substantial rally against EUR and USD.
There is an inverse flag shaped for the pair in the four-hour and day chart.
Collapsing energy market saw a glimmer of hope for a rebound due to positive fundamental shifts that happened this week.
Oil managed to get over the “below $30 bearish trap”.
Rumors of a production cut have cut Oil prices by over 10% last Friday.
Oil prices are looking upwards, as the market expects the OPEC members to finally come to an agreement on output levels soon.
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Last week was all about Janet Yellen’s speech before the congress.
Important news that will affect your trading.