settled at the resistance zone
by testing the institutional level of @60.000. The EIA
inventory report showed a massive cut of 12M
barrels last week while Russia and China agreed to extend their cuts on a 9-months span. Prices remain bullish
and we might expect a bullish
continuation : However a strong pullback from Friday June 28th exalts us to remain neutral, awaiting a confirmation. Thus odds of a trend continuation are medium.
@55.000 (+2000pips or 2.00$ per barrel) if bearish
or @63.000 (+3000pips or 3.00$ per barrel) if bullish
and buy at any low point while we don't break the @55.000 bottom level or await a confirmation.