All non-OPEC producers were called upon to help stabilize the market b'cos their role was as critical as the role of OPEC members- and as we all know Oil demand is expanding at enormous healthy rate despite the slower global growth. - Eyeing = 56.1 very soon (within 2weeks)
One of the famous oil investors suggest that freezing production or in other words urges them to slightly reducing production, - OPEC wanted to send a signal to the market that it wanted to lower inventories as a way of encouraging investments.....but no one knows if both OPEC members & Non OPEC members will buy this idea - nonetheless, prior to making up their mind - oil will continue doing what's doing for now & once they decides to reduce production? then we may see oil drop back south (46.1) before Christmas or by Christmas:)
Oil failed to break 51.88 and take Us down --> at least 1TP won :) and we are now journeying south with oil - 'hope to 47.0 I can't wait:)
DR.
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@Dr., Oil make it all the way down to our projected last line @ 43. & later pushed back up yesterday, We are very much excited that we were able to get back in :) now sitting @ 48. what a day!
We expect oil to kiss 53 for sure 100% & 55 zone can never be ruled -out but great is oil's fall afterwards - it will definitely fall back to 42 by the year end (2016) / January (2017) not beyond - 100%
Don't be too serious:) Watch before you leap, and have fun trading! -
mroussos
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this is NOv
Dec has more volume
DR.
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NO!, this is October:)
This year oil will make a very strange moves that will amaze many ;)