Hello Traders,
After 36% fall in 56 days, Oil prices are higly liky to take off during the coming weeks and if we are not going to see a complet reversal back to the top at least we will have a good bulish wave that will give us good money :
Latest news from the market are in favore to push Oil prices to the upside :
*US crude rises 4%, settling at $52.95, on trade truce and expected supply cuts
*Alberta to cut oil production to ease glut and support prices.
*OPEC expected to agree cuts aimed at reining in oversupply on the 6th of December meeting ( in couple of days ).
Technically, price actions did broken up the desending channel with a stong impulse : we are looking for continuation for more upside after correction will complet.
This is not not an investement advice, it's for educationnel purpose.
Please respect your money management and don't expose more than 1% of your capital to the market.
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Best Regrads.