Is Oil operating on slippery floors? - IB Times

Apr 24, 2017, 11:08 AM

Seldom do we get to see fundamental and technical experts agree on the market. This is one such occasion where technical factors and fundamental factors point to oil market weakness ahead.

Tip TV Presenter Zak Mir takes note of the key trend line resistance and bullish exhaustion on the charts before asking Gaurav Sharma, Business Editor and Oil Analyst at IB Times, about the fundamental picture.

Sharma says it is widely believed that if the OPEC takes out one barrel, it indirectly subsidises one shale barrel and this psyche is hurting the oil markets.

Listen to the full segment for more info on - upcoming OPEC meeting and potential price action in the near-term.

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