Market is discounting a possible production freeze deal at an informal OPEC Meeting in Algeria next month. Iraq's entry into the market last week added 70,000 barrel daily to the market as there is no evidence of any increase in demand for crude.
Price is expected to test 78.6% fibo level (48.97) to the downside.
Price is expected to test 78.6% fibo level (48.97) to the downside.
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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.