USOIL 36.91 +3.82%
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GOOD DAY TRADERS
HERE'S A LONG IDEA ON USOIL , AS WE AWAIT A MEETING BETWEEN THE ORGANIZATION OF THE PETROLEUM EXPORTIN COUNTRIES ( OPEC) AND THEIR ALLIES...
> DAILYFX - Oil could be in limbo as traders await a meeting between the Organization of the Petroleum Exporting Countries (OPEC) and key allies. Reports crossed the wires on Monday that OPEC+ could bring forward the meeting to June 4. A key issue that is going to be discussed is whether or not record output cuts could be extended between one to three months.
As a reminder, earlier this year a price war was triggered between key producers Saudi Arabia and Russia. The latter’s initial refusal to participate was a detriment to the commodity. Towards the end of last month, Russia hinted that it wanted to push for easing production restrictions. A similar row between Moscow and Riyadh could risk reigniting selling pressuring in crude oil prices.
dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/06/02/Gold-Prices-Rally-Crude-Oil-May-Be-in-Limbo-Ahead-of-OPEC-Meeting.html
> US OIL IS STILL IN AN UPTREND AS WE SAW SOME VOLITILITY COMING BACK TODAY, SO LOOKING FOR LONG ENTRIES IN OIL TARGETING THAT $40.00 MARK ...
RISK MANAGEMENT
FOLLOW YOUR ENTRY RULES
PERIOD - SWING
HERE'S A LONG IDEA ON USOIL , AS WE AWAIT A MEETING BETWEEN THE ORGANIZATION OF THE PETROLEUM EXPORTIN COUNTRIES ( OPEC) AND THEIR ALLIES...
> DAILYFX - Oil could be in limbo as traders await a meeting between the Organization of the Petroleum Exporting Countries (OPEC) and key allies. Reports crossed the wires on Monday that OPEC+ could bring forward the meeting to June 4. A key issue that is going to be discussed is whether or not record output cuts could be extended between one to three months.
As a reminder, earlier this year a price war was triggered between key producers Saudi Arabia and Russia. The latter’s initial refusal to participate was a detriment to the commodity. Towards the end of last month, Russia hinted that it wanted to push for easing production restrictions. A similar row between Moscow and Riyadh could risk reigniting selling pressuring in crude oil prices.
dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/06/02/Gold-Prices-Rally-Crude-Oil-May-Be-in-Limbo-Ahead-of-OPEC-Meeting.html
> US OIL IS STILL IN AN UPTREND AS WE SAW SOME VOLITILITY COMING BACK TODAY, SO LOOKING FOR LONG ENTRIES IN OIL TARGETING THAT $40.00 MARK ...
RISK MANAGEMENT
FOLLOW YOUR ENTRY RULES
PERIOD - SWING
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