Latest Trump tweet may accelerate the Crude's Bullish Move. "China agreed to reduce and remove the tariffs on Cars coming into China from US. Currently the tariff is 40% " Agreement is to reduce to 15%
50.20 Support works well. Targets 52.50, 53.75 and 57.40
Comment
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Comment
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We have reached our first target at 52.50. Crude is above EMA50. A positive EIA data will trigger the bullish move.
Remember: Today we will see Cruide Inventories and I expect a very good result since the OPEC has found an agreement. API`s yesterday were great! =)
chartreader_pro
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@Irasor, I mentioned above...Not only Crude Inventories figure but the full data set must also be positive. EIA Weekly Distillates Stocks and Cushing Inventories ... Let's wait and see :-)
Trading2ez
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@itradeandwin, Yeah, sorry. But overall it looks pretty good so far. This consolidation is a good sign and shows that the market is just waiting for it to buy this beautiful price!
chartreader_pro
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@Irasor, Agree... On the H4 Chart, prices entered into the Bullish Zone and stay above 52.34. Positive view...
Jamal92
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@Irasor, Lol the inventories were bad!
danijel.dragan
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Thank you for your effort.
chartreader_pro
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@Danijel.dragan, Not at all...Hope it works as I predicted.