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USOil | New perspective for the week | Follow-up detail

The OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day hereby bringing the total volume of cuts by OPEC+ members to 3.66 million bpd according to Reuters calculations - a whopping 3.7% of the global oil demand. The latest reductions have a strong potential of lifting oil prices to new highs. In this video, we looked out for the possibility of taking advantage of any potential move in either direction.

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Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

İşlem aktif

The week opened with a 47pips bullish gap to send a bullish signal across the market. This move is not unconnected to the OPEC+ member's decision to cut oil production and with an expected cut of 3.66 million bpd, we might witness a surge in demand which is already reflected on the chart. However, we are still going to look at the chat to sniff out a potential move and with the current structure, a breakdown of the $79.00 level could incite a retracement to test the structure before the uptrend continuation happens. However, a breakout/retest of the $80.50 level will welcome buying opportunities. See you at the live session for a detailed explanation.

Good morning

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Fall out from our live session this morning

Not

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Momentum still remains limited

Good morning

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We have a new trendline to guide our trading activities today

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İşlem kapandı: durdurma seviyesi

Just as discussed during our live session this morning. A breakdown of the trendline will welcome selling opportunities

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Now, a breakdown of the $80.50 level shall welcome selling opportunties

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buying pressure resumes after bears lose momentum below the $80.50 level. Looking forward to buying opportunities above the $81.25 level

Good morning

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updated market structure

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Secure sell position

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Secure sell position

Good morning

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Fall out from morning live session; ensure all sell positions is secured

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Secure buy position

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US oil prices still struggle around the $80 barrier; detailed discussion during our morning live session ahead of the NFP

Good morning

darcsherry

Trade smart. Trade consciously

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