Crude Oil Potential Rise Ahead of OPEC Meeting
Due to OPEC's Meeting tomorrow and the potential production cuts from OPEC and Russia we might see a rise in crude oil prices in the next few days.
The risk of further drop is still there since China isn't importing yet and coronavirus consequences affecting the market.
Probably it will calm down in a few months, although tight stop-loss or at least small potitions would be safer for now.
Technically there are some sings of reversal with short term targets 49.20
and 51.70.
The risk of further drop is still there since China isn't importing yet and coronavirus consequences affecting the market.
Probably it will calm down in a few months, although tight stop-loss or at least small potitions would be safer for now.
Technically there are some sings of reversal with short term targets 49.20
and 51.70.