Oil prices drop after Trump's tweet.
- by Anna K.
Interesting dynamic was noticed yesterday and we can still see it today. Donald Trump decided that the prices for oil are too high for his taste. He took to twitter to express his concerns with the growing prices for the crude as well as attacked OPEC saying, that the world couldn’t handle high price for oil as the economy is too fragile. Naturally, prices for oil both WTI and Brent dropped after this.
This is a 1-day graph for WTI. We see that the volatility started yesterday before a big drop came in. The declines are still ongoing.
Will traders be able to take matters into their own hand and fix prices for oil or are we going to be the victims of Trump’s habit to always say what he is thinking? Find out with our signals!