Although USOIL is standing a a fibonacci support (50%). IHMO it could fall further into the marked zone.
trade safe.
trade safe.
Trade active
46 +/- is the target.Note
OPEC meeting is the most important meeting. Why? both, KSA and Russia, need Trump's dividend, and there 3 possible scenarios holding from a thistle
Scenario 1: Russia and OPEC cut production 1.4 million barrels nsync with trade agreement lifting oil up and reversing FED's decision from near neutral (hiking more 2 times) which would totally unleash Trump's fury and will be possible that sanctions to Russia increase so as to KSA + investingation to MBS.
Scenario 2: Cut production less than 1.4, which actually it would be around 500k just to test how market will respond to the Sino-Us temporary agreement.
Scenario 3: No production cut and which it wouldn't generate sanction over KSA nor Russia (at least until march 2019). Trump will delay sanctions against Russia and will talk to the Europeans to moderate them.
Note
fake rally because the statements of China and Us have big differencesNote
Scenario 3 on playNote
BOOMTrade closed: target reached
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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.