Oil prices rose on Tuesday ahead of the release of the weekly US crude stocks on Wednesday. Last week oil inventories surprised markets with a 9.6-million-barrel drawdown and this week’s report could still show tightening supplies. Disruptions to supplies in Venezuela and another drawdown reported this week are boosting the price of the black stuff.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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