Hello traders, Fundamentally the market will mostly be determined by the coming week OPEC+ meeting, but currently Bull Hedge on opec meeting, Quoating analyst Barani Krishnan "For the oil market, the fear of OPEC is greater than the fear of an implied U.S. recession."
In technical we see the ranging market formation with highs at 128 and lows in the 90s, currently were at a support level in a downtrend channel, if the market clearly breaks the channel above buyers will be looking to ride the market towards 128. on the other side if we see a vivid break below the 200 MA we may see sellers going down to 80s level. Follow for more UPDATES
In technical we see the ranging market formation with highs at 128 and lows in the 90s, currently were at a support level in a downtrend channel, if the market clearly breaks the channel above buyers will be looking to ride the market towards 128. on the other side if we see a vivid break below the 200 MA we may see sellers going down to 80s level. Follow for more UPDATES