$UKOIL - Production cuts will pump it to $101
Hi guys! 👋🏻
🔔 Surprisingly low US inventories data supported a short-term uptrend of Brent crude, comforting the price to hit $90 this week.
🔔 OPEC+ meeting scheduled on October 5 will be on the watch, as the cartel suggest a production cut of 100,00 barrels per day (bpd).
🔔 Brent once again retested the upper edge of the descending triangle, although the bullish run is yet to be confirmed. The confirmation is set under a breakout from the wedge and closing of the price above $91.60. If that is confirmed, then we expect the price to move further to $98 and $101.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Surprisingly low US inventories data supported a short-term uptrend of Brent crude, comforting the price to hit $90 this week.
🔔 OPEC+ meeting scheduled on October 5 will be on the watch, as the cartel suggest a production cut of 100,00 barrels per day (bpd).
🔔 Brent once again retested the upper edge of the descending triangle, although the bullish run is yet to be confirmed. The confirmation is set under a breakout from the wedge and closing of the price above $91.60. If that is confirmed, then we expect the price to move further to $98 and $101.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Nothing is true, everything is permitted.
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