With OPEC and Russia discussing the supply cut extension from March 2018 to end of 2018 (but realistically, they might agree to June 2018 instead), there's higher probability that it will rise to 60-65 soon before going bearish again especially once tax legislation issue in the US is dealt with. Setting up buy stop order with TP 60 and tight SL between S1 and base pivot lines.
reuters.com/article/us-opec-meeting/opec-russia-set-for-oil-cut-extension-but-wary-of-overheating-market-idUSKBN1DT0X9
oilprice.com/Geopolitics/Europe/Forget-OPEC-Putin-Is-Calling-The-Shots-In-Global-Oil.html
Daily:
Weekly:
Confidence: A
reuters.com/article/us-opec-meeting/opec-russia-set-for-oil-cut-extension-but-wary-of-overheating-market-idUSKBN1DT0X9
oilprice.com/Geopolitics/Europe/Forget-OPEC-Putin-Is-Calling-The-Shots-In-Global-Oil.html
Daily:
Weekly:
Confidence: A
Trade closed manually
Trade closed manually before the holiday season last year, but will go long again once bullish confirmation appears.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.