13 days ago • Posted by Ajmir Omid

#Oil rejected, further weakness ahead? #commo #trading

Oil dropped on demand fears after China's unexpectedly weak economic data. US Crude lost 4.5%, trading near USD94. Such a sharp drop let one guess bears may be in control and a retest of the prior month's lows could be a plausible scenario for the coming day. Keep in mind OPEC's meeting this Wednesday.