This is my view for oil trading until March 2018.
COT Oil trades are currently at highs, and if oil fails breach weekly red falling trendline, we are stuck in trading range from 45 to lower 50s.
Repair zone for oil is around 46, and with current bullish OPEC talk, it wont be breached soon (yearly speaking).
Major event will happen only next year, with OPEC-non OPEC meeting regarding extending cuts (cuts that were made on max 2016. production!).
COT Oil trades are currently at highs, and if oil fails breach weekly red falling trendline, we are stuck in trading range from 45 to lower 50s.
Repair zone for oil is around 46, and with current bullish OPEC talk, it wont be breached soon (yearly speaking).
Major event will happen only next year, with OPEC-non OPEC meeting regarding extending cuts (cuts that were made on max 2016. production!).