{"id":77297,"date":"2015-08-24T06:54:00","date_gmt":"2015-08-24T10:54:00","guid":{"rendered":"http:\/\/countingpips.com\/?p=77297"},"modified":"2015-08-24T07:18:28","modified_gmt":"2015-08-24T11:18:28","slug":"crude-oil-tumbles-into-the-30s","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/crude-oil-tumbles-into-the-30s\/","title":{"rendered":"Crude Oil Tumbles Into the 30\u2019s"},"content":{"rendered":"
August 24, 2015<\/div>
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Article by ForexTime<\/a><\/p>\n

Crude futures hit a new six-and-a-half year low of $38.70 following a more-than 3.5% decline. The decline reflects global growth concerns as China-led global stock dive intensifies. There has reportedly been a sharp rise in non-commercial short positioning, according to the most recent commitment of traders report. Other commodity prices are also down sharply today, while even gold is showing moderate losses, apparently as a consequence of some investors having to sell to cover margin calls.<\/p>\n

Crude oil price broke through trend line support on Friday breaking through the $40 dollar level for the first time in 6-years.\u00a0 The increase in drilling rigs reported by Baker Hughes led to the initially selloff below the psychological barrier.<\/p>\n

Technically, crude oil prices broke through trend lows a momentum turned negative.\u00a0 The MACD (moving average convergence divergence) has generated a sell signal as the spread (the 12-day moving average minus the 26-day moving average) crossed below the 9-day moving average of the spread.\u00a0 The index moved from positive to negative territory confirming the sell signal.<\/p>\n

\"cl-082415\"<\/a><\/p>\n

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\"Forex-Time-Logo\"Article by ForexTime<\/a><\/span><\/strong><\/p>\n

ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 www.forextime.com<\/a><\/p>

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Free Reports:<\/p><\/div>\r\n

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<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

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Article by ForexTime Crude futures hit a new six-and-a-half year low of $38.70 following a more-than 3.5% decline. The decline reflects global growth concerns as China-led global stock dive intensifies. There has reportedly been a sharp rise in non-commercial short positioning, according to the most recent commitment of traders report. Other commodity prices are also […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77297","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=77297"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77297\/revisions"}],"predecessor-version":[{"id":77299,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77297\/revisions\/77299"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}