Oil Slips as Post-Christmas Rally Fades

The video discusses recent market volatility, focusing on crude oil. It highlights a short covering pattern with no fundamental changes, noting key support and resistance levels. Venezuela's declining production is identified as a trigger for recent price movements, but oversupply remains a concern. The video analyzes crude oil inventory levels and forecasts a price rebalance in 2019, emphasizing the need for OPEC cuts, reduced US production, and a trade agreement with China.

What pattern was observed in the crude oil market recently?

• A long-term bullish trend

• A sudden drop in prices

• A short covering pattern

• A stable price pattern

What is the key level of support identified for crude oil?

• $40

• $42.50

• $45

• $50

What is the current inventory level of crude oil compared to the past?

• No data available

• Equal to the past

• Lower than the past

• Higher than the past

What is one of the necessary actions for crude oil prices to rebalance in 2019?

• Ignore trade agreements

• OPEC to make aggressive cuts

• Increase production in the US

• Increase production in Venezuela

What is the expected average price range for crude oil in 2019?

• $40 to $45

• $45 to $50

• $50 to $55

• $55 to $60