NYMEX:CL1! Light Crude Oil Futures
OPEC and non-OPEC nations are meeting tomorrow, but the media remains curiously quiet about the whole thing. In fact, we don't even know what time they're meeting. With the economies of countries like Venezuela and Russia being so heavily correlated with oil , it will benefit them greatly if the pressure is lifted on oil prices. As for the technicals, note the consolidation of over the past week or so, and vacuum areas on the up and down side. A breakout either way could be very profitable. Just be wary of how volatile this can be especially intraday. Keep paying attention tomorrow for any news (leaks?) about the meeting.