Crude Oil Outlook - USD106 as major resistance 02 Apr 23 OPEC+ made a surprise announcement to reduce its production starting May.
The direction of the commodities price is always about supply and demand.
With the China opening, there will be an increase in the demand for crude. The reduction on its production will likely cause crude to trend much higher.
Video explained why crude to break above USD106.
3 types of crude oil for trading:
• Crude Oil Futures
0.01 per barrel = $10.00
Code: CL
• E-mini Crude Oil Futures
0.025 per barrel = $12.50
Code QM
• Micro WTI Crude Oil
0.01 per barrel = $1.00
Code: MCL
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