Since the beginning of the week, the raw oil variety WTI has shown a strange pattern of behavior. In part, maybe a coincidence, perhaps a logical connection because of the opening of the NYSE, but the constant sale at one particular hour for the whole week can not be noticed and trigger our attention and curiosity.
For the past five days, WTI has been sold out with a heavy volume at exactly 16:30 when it opens the US session. In view of the usual sharp oil reactions after good or bad news, this pattern stands out, with sell-off following a slight consolidation before the same thing happens again.
Maybe oil producers begin to hedge?
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.