As we all know, prices for oil depend of the availability of the asset. And the more oil there is in the market, the lower are the prices for it, as there are no concerns for the supply and demand is not high. But as soon as the output numbers or the stockpile numbers change we see prices for commodity change – the less oil is available, the higher are the prices. And that is exactly what OPEC countries are trying to do. They are lowering the output numbers to hold prices for oil within the certain scopes. But right now, as trade concern around the world grows prices for oil are slipping.

The chart is showing us the movement of the WTI oil today. We can see that the price for oil dropping as OPEC countries show no definite direction for the oil today. We are definitely looking at a very poorly managed asset.

With a drop like that and the fact that it has been ongoing since last week points at the fact the recovery may not come for several days. But what if? That is the question that only trading signals can help us answer today.