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USOIL Daily Outlook

TVC:USOIL   CFDs on WTI Crude Oil
USOIL the pair keep rising after OPEC extended production cut for next year, but at the same time higher prices will bring American oil into the market in larger amounts. OPEC has recently released a white paper suggesting that the Americans are going to be a bigger problem than originally thought. Crude oil price keeps its stability above the EMA50, to keep the bullish trend scenario active for the upcoming period to test 58.50/59.00, but before going to rally we can see one leg down to enter buyer , as technically on weekly the pair trading below 200 MA, on 1hr candle pattern are completing impulse waves. overall we are waiting to test 56.60/20 before buying in the pair.


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as expected target hit
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