Buy - Drop yesterday it has seen worse - they don't agree on raising production, talks collapsed.
"Goldman Sachs said the collapse of the talks had introduced uncertainty into OPEC's production path. The bank said it still saw Brent reaching $80 per barrel early next year."
WTI obviously follows suit.
"Hopefully there will be further talks within the next 10 days"
But that should mean price will drop leading to over supply but I think demand is strong around the world, don't you.
Start of another uptrend has begun the return to previous levels and beyond.
Wkly
Daily
4 hr
All uptrends above 200 day moving average, smaller time frames should flip back up making it a full house.
Might be a pullback or 3 on the way.
imho : )
"Goldman Sachs said the collapse of the talks had introduced uncertainty into OPEC's production path. The bank said it still saw Brent reaching $80 per barrel early next year."
WTI obviously follows suit.
"Hopefully there will be further talks within the next 10 days"
But that should mean price will drop leading to over supply but I think demand is strong around the world, don't you.
Start of another uptrend has begun the return to previous levels and beyond.
Wkly
Daily
4 hr
All uptrends above 200 day moving average, smaller time frames should flip back up making it a full house.
Might be a pullback or 3 on the way.
imho : )
Trade closed: stop reached:
Dropped again
"They" still worried about production amounts and the new Covid variant apparently escalating around the world.
"They" still reckon Oil should be $79 by the end of September currently $72 dropped from $77 ish.
Who knows, that's why I like scalping strength especially on breaks of Support in and out fast : )
"They" still worried about production amounts and the new Covid variant apparently escalating around the world.
"They" still reckon Oil should be $79 by the end of September currently $72 dropped from $77 ish.
Who knows, that's why I like scalping strength especially on breaks of Support in and out fast : )