Oil buy advice on this news OPEC General Secretary and Saudi Oil Minister deny any rumors of Saudi Arabia threatening to raise Oil Output, in competition with Iran.
Buy oil in range of 44.2-43.4 SL 42.7 TP1 45.7 TP2 47.3
Here Crude Oil price right on wedge support so we can try long here full lot with tight stop loss.
H3 Hammer gave me nice reversal from breached triangle resistance with classically became support.
Otherwise if we breached down we can see 3x again soon.
Black - Wedge Ascending
Oil Down due to this news
OPEC officials approved on Monday a document outlining the exporter group's long-term strategy, in a sign its members are making progress in ironing out differences over how and when to manage production levels and, ultimately, oil prices.
Now As Technical Oil Can hold Current level or 46.3 level which is Weekly pivot point if hold...
Oil Trading on Very Strong level around 49.5 as on daily its strong support 49.05 and 48.5 if hold above 48.5 we can see 51-51.5 level soon
Advice buy in range of 49.55-48.7 Sl below 48.2 TP 51
Oil Trading around 49.25 level Where Strong Support level 48.5-48.3 and Today We have Oil inventories also.
Buy advice in range of 49.25-48.4 sl below 47.8 TP1 50.9 TP2 52
PRICE CAME DOWN AND RETESTED THE MAJOR SUPPORT TREND LINE AND THE 0.618 (43.00) FIB LEVEL.
PRICE SHOULD BOUNCE BACK.
ENTER WITH A BUY STOP JUST BELOW THE 43.60 PRICE LEVEL.
STOP LOSS JUST BELOW THE 0.618 FIB LEVEL AND THE MAJOR SUPPORT TREND LINE.
PROFIT TARGET IS 46.70 PRICE LEVEL.
STOCHASTIC/RSI IS GOING BELOW THE 20 LEVEL.
