Oil rallies
for today after it was rumored of a possible production cut deal among some oil
producing countries. That has made the price of light crude oil or WTI to rally
close to the 35.00 level for today. Above the 35.00 level, the 37.00 could act
as its next resistance. To the downside, the 32.00 level could act as support
as shown on the daily chart.
Not a good news for consumers.
ReplyDeleteNo, not a good news at all.
ReplyDeleteStill testing the resistance at 35.00.
ReplyDeleteIn fact the oil market was particularly volatile, with the session to be marked by many rumors and denials.
ReplyDeleteVery informative post, thank you.
ReplyDeleteGreat analysis!
ReplyDeleteThanks for such an informative article.
ReplyDeleteInteresting analysis.
ReplyDeleteVery useful post.
ReplyDelete