Oil on Friday continued to move in the medium-term bearish trend. The reason was the poor statistics and a weakening factor in the Middle East. The cost of a barrel of Brent crude remained near 109.00 dollars.
Fundamental data do favor the rising cost of oil. Despite the normalization of the situation in the Middle East , the restoration of consumer and business activity in the U.S. and China increases demand for fuel, which inevitably affects the growth of prices. In addition, while that risks further escalation of tensions in the Persian Gulf is very much, so investors are unlikely in such circumstances will be used for the sale of oil .
Technical indicators so far point to a sideways trend . ADX indicator has even dropped to the 15th level , which indicates a very low market trend during the day, while Stohastic has not been able to reach the level of 80 , indicating that the low trading activity. " Bollinger Bands " show the value of high volatility .
Finally, in respect of "black gold" in general we are positive and we expect continued growth in prices, but at a more moderate pace.
