OIL BUY TP_53.99_6.97%_3.52pipss_SL_49.21_2.50%_1.26pips
Hello, receive a cordial greeting, you have the oil analysis at your disposal in the short term, you have marked supports and resistances. Oil rises almost 2% and hits the highest since February awaiting the OPEC meeting. Kind regards, Happy New Year !!! L.E.D In Spain on 01/04/2020
OIL BUY TP_41.42_30.77%_9.746pips_SL_29.71_6.21%_1.966pips
OIL SELL TP_51.03_11.39%_6.559pips_SL_58.12_0.93%_0.534pips
Yesterday WTI closed above 200 MA on the daily candle and the reports for EIA about a possible deficit due to the OPEP cuts on the production with the first lower inventories in USA backed this view on the fundamental side.
THE OPEP MEETING EARLIER TODAY GAVE THE WTI THE BEARISH KICK WE NEEDED FOR THIS TRADE. THEY DECIDED TO KEEP PRODUCTION UNCHANGED, THAT IS A BEARISH FUNDAMENTAL FOR USOIL. THE TECHNICALS SHOW US THAT THE OIL HAS A VERY STRONG AREA ARROUND THE 58-60S. LAST MONTH WE HAD AN EVENING STAR CANDLESTICK PATTERN, CONFIRMED WITH TODAYS FUNDAMENTALS AND TECHNICALS. JP MORGAN...