US market at the moment showed the worst decline in over a three day period, starting in 2011. Another loss of the S & P 500 accounted for more than 1.5%. So, Friday was observed approaching index to the key level at around 1900 points, but on Monday the level was successfully broken.
The reason for this decline was the message affected by Ebola is already in the US. This information was sufficient for the collapse of quotations to support level at around 1870 points. The breaking of this level opens the way to more levels located below. So, it can be called a key, as told the experts of the Forex Broker Company Fort Financial Services (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Correction of the foreign exchange market began back in the previous week. The decline of the dollar index has reached the mark of 85.35. Against this background, the European single currency rose intending to grow further over the mark of 1.27. Currencies of commodity sections also show growth, in particular, to strengthen its position, the Canadian dollar and the Australian dollar. All this may indicate that the prevailing mood in the market may turn towards optimism.
Stabilization of prices in the oil market may not be earlier winter.
Oil market still unchanged. The cost of "black gold" continues to decline steadily, without any attempts to recover. Brent oil futures currently trading around 88.10 dollars, but they have a chance to reduce to a minimum of 87 dollars per barrel. In Kuwait, in turn consider it quite possible drop to the level of 76 dollars.
Kuwaiti Oil Minister Ali al-Omari made a prediction regarding the current situation in the oil market. In its forecast, he noted that the stabilization of prices and their further growth is possible not earlier than the beginning of winter. Also, the official made a statement regarding the OPEC cartel. Oil Minister suggested that the agreement on coordinated reduction of oil production from the cartel gain is unlikely.
Traders of the faculty of online learning trading system of Masterforex-V indicate that the dollar continued to shape correction with respect to the long-term uptrend is likely forming a wave 4. The closest major resistance level is located in the region of the maximum 86.87, the breakdown of which indicate at further strengthening.
