This Thursday OPEC is expected to continue to boost output as the demand outlook continues to recover.
== TECHNICAL ANALYSIS ==
Previewing the weekly chart above indicates we are trending in the overbought territory with RSI along with a strong resistance level that dates back to the highs in 2018
Should OPEC disappoint with their output projections, oil prices will likely begin to correct off these highs. On the other hand, if they continue to pump more oil, oil prices could reach as high as $100/barrel.
== TECHNICAL ANALYSIS ==
Previewing the weekly chart above indicates we are trending in the overbought territory with RSI along with a strong resistance level that dates back to the highs in 2018
Should OPEC disappoint with their output projections, oil prices will likely begin to correct off these highs. On the other hand, if they continue to pump more oil, oil prices could reach as high as $100/barrel.