If you understand the US economy then understanding oil may not be too hard to follow. We have been seeing a lot of bullish momentum from oil after OPEC announced it was cutting its production of oil. If these fundamental events continue to align this technical clue on the chart, then oil can hit the forecast target outlined.
Note
Strong pull back from oil. We do have some micro structure break but trend still holding.Note
Analysis still active
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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.