Has Oil Run Into a Roadblock at $57?

The video discusses recent trends in the oil and gold markets. Alan Nachman, a chief market strategist, provides insights into oil price movements, highlighting the significance of the $57 level for WTI and the impact of geopolitical tensions. The discussion also covers the potential influence of the Saudi Aramco IPO on oil prices. In the gold market, the video examines a failed breakout attempt and the role of the euro currency as an indicator for future movements.

What is the significance of the $57 level for WTI crude oil prices?

• It is the average price over the last decade.

• It is a key resistance level.

• It is the highest price ever recorded.

• It is the price at which oil production becomes unprofitable.

How has the recent strength of the dollar affected oil prices?

• It has caused oil prices to decrease.

• It has led to increased oil production.

• It has added a positive aspect to the oil price rally.

• It has had no impact on oil prices.

What geopolitical factor is mentioned as influencing oil prices?

• North Korean missile tests

• The US-China trade war

• Middle East tensions

• Brexit negotiations

What is the potential impact of the Aramco IPO on oil prices?

• It will decrease oil prices.

• It will have no impact on oil prices.

• It will cause oil prices to fluctuate wildly.

• It will add underlying support to oil prices.

What indicator is suggested to watch for predicting gold's future movements?

• The price of crude oil

• The US stock market

• The euro currency

• The price of silver