Break above Res1 UWT Long
Updated
Idea : Recently broke above Res1 and pulled back. If support can hold we can climb higher.
Support : OPEC recently agreed on a cut in production.
Support Links :
bloomberg.com/news/articles/2019-01-08/oil-holds-gains-near-3-week-high-as-trade-deal-optimism-grows
reuters.com/article/us-saudi-oil-opec/saudi-arabia-confident-cuts-by-opec-and-allies-will-balance-oil-market-idUSKCN1P31Y7
finance.yahoo.com/video/oil-prices-rise-trade-talk-171556194.html
Support : OPEC recently agreed on a cut in production.
Support Links :
bloomberg.com/news/articles/2019-01-08/oil-holds-gains-near-3-week-high-as-trade-deal-optimism-grows
reuters.com/article/us-saudi-oil-opec/saudi-arabia-confident-cuts-by-opec-and-allies-will-balance-oil-market-idUSKCN1P31Y7
finance.yahoo.com/video/oil-prices-rise-trade-talk-171556194.html
Trade active
Pulled back to support. News still coming out about production cuts and their effects. If we hold supp and move into the $12.50 - $16 range there's a lot of potential margin for profit.
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