On The Monthly Chart First Thing Is That The Month Has Started On The Flight Note Which You Can See High Area Achieved And That Is Why I Say Beyond 86.5 Level You Can Expect Similar Size Of Candle In The Month Of September Now.
This Candle Was Almost Of 11 To 12 Dollars And Hence If You Count The Similar Size Of Candle Or Further Smaller Candle You Can Find Out There Is A Very Strong Probability That In The Month Of September We Can See Oil Hitting At Around 90 To 93 Level There Is A Very Strong Probability That It Can Try To Breathe This Channel Or Achieve The Top If The Channel In The Month Of September. I Will Watch Out For How It Behaves At 86.5 Level And Then Around First At 88 Then Around 90 And Then We Can See Next Level Resistance Zone At Around 90 To 93 Level So Very Very Strong Bullish Hint Oil Is Giving As Of Now Possibly It May Continue With The Momentum And Achieve Top Of The Channel As Fast As Possible.
Lets Talk About Fundamental:
Russia Extend Oil Exports Cuts Of 300,000 bpd The End Of Year.
Saudi Arabia Also Cut of 1 million barrels per day until the end of the year.
This Candle Was Almost Of 11 To 12 Dollars And Hence If You Count The Similar Size Of Candle Or Further Smaller Candle You Can Find Out There Is A Very Strong Probability That In The Month Of September We Can See Oil Hitting At Around 90 To 93 Level There Is A Very Strong Probability That It Can Try To Breathe This Channel Or Achieve The Top If The Channel In The Month Of September. I Will Watch Out For How It Behaves At 86.5 Level And Then Around First At 88 Then Around 90 And Then We Can See Next Level Resistance Zone At Around 90 To 93 Level So Very Very Strong Bullish Hint Oil Is Giving As Of Now Possibly It May Continue With The Momentum And Achieve Top Of The Channel As Fast As Possible.
Lets Talk About Fundamental:
Russia Extend Oil Exports Cuts Of 300,000 bpd The End Of Year.
Saudi Arabia Also Cut of 1 million barrels per day until the end of the year.
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