what's next for WTI CRUDE OIL?
were still in waiting mode most of the traders are waiting the final diction of OPEC+,
never the less the market is still trending down in my personal opinion ,i would wait the market to settle at 43.30,
While oil is losing ground today, the market continues to expect support from OPEC+ and does not believe in the worse-case scenario which will bring additional production of 2 million barrels per day (bpd) in January 2021. Most likely, oil traders are right, and OPEC+ will manage to craft a deal which will support the market during the first quarter of the next year.
picking a long long position at 43.30 would exactly apply this scenario
were still in waiting mode most of the traders are waiting the final diction of OPEC+,
never the less the market is still trending down in my personal opinion ,i would wait the market to settle at 43.30,
While oil is losing ground today, the market continues to expect support from OPEC+ and does not believe in the worse-case scenario which will bring additional production of 2 million barrels per day (bpd) in January 2021. Most likely, oil traders are right, and OPEC+ will manage to craft a deal which will support the market during the first quarter of the next year.
picking a long long position at 43.30 would exactly apply this scenario
