Oil consolidation mainly cause by the disagreement of Russia Energy Minister to the OPEC+ members for cutting the output oil production by 600k BPD. but last night the Minister announced they will hold a meeting today with domestic oil producers to discuss the OPEC+ deal. Market participants seeing some positive hope on this statement therefore we can see US OIL start to gain limited upside move, wait until we see a solid break above $52.00/ barrel to validate the long setup.
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Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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Thank you for your support!
_________________________________________________________________________________________________________________________________________
Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage the trade together.
Disclaimer
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
_________________________________________________________________________________________________________________________________________
Thank you for your support!
