On a technical perspective, Oil could reverse from the current price and start to climb again targeting buyside, as we have seen a divergence between Brent and WTI. However, it looks like Brent is weaker and might not be able to validate higher prices.
Next week's OPEC meeting could clarify the direction, as I do not believe they will succumb to President Trump's requests of lowering Oil prices massively, and we could be looking for a volatile month.
Next week's OPEC meeting could clarify the direction, as I do not believe they will succumb to President Trump's requests of lowering Oil prices massively, and we could be looking for a volatile month.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.