is it Reverse H&S?

Updated

if yes, then a barrier-break bullish tone in Brent can be seen

Note

lets see what's in store for Nov 30th OPEC meeting

Note

This time around prior to 30th Nov OPEC meeting, many willing & active discussions have had happened. Looks like OPEC is expected to deal for real this time, striking some form of agreement when it meets at the end of the month to curb production and stabilize the oil market.

Possible Scenario’s:
If Deal (to cut production) Happens: Brent can break and move above $53.50
If Deal doesn’t materialize: Brent can move back towards $40

namah

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.