Skip to main content

CRUDE OIL LOOKS READY TO DEFY All ODDS WWW.JUPITERR.CO

We will provide you Best Online and Offline support 24/7 via

WhatsApp,Facebook,Instagram.

www.jupiterr.co

India's No.1mcx Tips Provider

Missed Call @:9761458186

For six weeks the bears in crude oil has beat their drums, when crude lost buying interest as EIA and OPEC lowered their forecast for global oil demand for the rest of 2018 and 2019. More than $20/barrel was shed off from the year’s high. Are we looking for a rebound as price hit 30 degree uptrend line and above yearly pivot $54.22.
The global growth slowdown, which was the initial catalyst for the sell-off, forced OPEC to meet this December 6th to agree on a supply reduction as suggested by Saudi’s enegy minister Khalid Al-Falih. Nevertheless, this initiative could be meaningless if Russia decided not to participate in any joint move with OPEC.
but for now, the bullish hammer closed yesterday and less inventories expected (2.099M vs 10.270M) plus the long term bullish technicals warrant a buy above weekly pivot ($57.80) with a stop below yearly pivot ($54.20) and a target of 38.2% of October’s high and last week low ($63.50).
Sure, this is a counter-trend from a daily perspective, but it is inline with the weekly trend. I’ll update my stop to $54.80 once price closed above $58.80 to reduce risk. Once price closed above $61.20, I will close half and update stop to breakeven. I expect to hit the target as we come close to December 6th, the OPEC meeting. Last but not least, if trade was triggered and price fell back and closed below $54.80, then I will cut the loss short for $3 loss a barrel.

Comments

Popular posts from this blog

LIVE PRICE BY DELTAMCX UPDATE WEDNESDAY OF JUNE 19/6/2019 (11:30)am Call Or Whatsapp At 7900407979/8218995523 www.deltamcx.com

LIVE PRICE BY DELTAMCX  UPDATE WEDNESDAY OF JUNE 19/6/2019 (11:30)am Call Or Whatsapp At 7900407979/ 8218995523 www.deltamcx.com Maximum Accuracy Best Returns https://api.whatsapp.com/send?phone=917900407979

LIVE CRUDE NEWS UPDATE BY DELTA RESEARCH

  Missed Call Or WhatsApp  Arushi Pathak 7900407979 www.deltamcx.com  Maximum Accuracy Best Returns Oil prices traded lower on Monday in Asia. Sino -U.S. trade war developments were in focus.U.S.  Crude Oil WTI Futures  fell 1.1% to $55.04 by 12:35 AM ET (04:35 GMT.). International  Brent Oil Futures  were down 1.2% to $61.16.Concerns that the U.S.-China trade war may further intensify eased somewhat after President Donald Trump reportedly said that proposed tariffs on China could be delayed or halted if Beijing “takes positive action.”During an interview with CNBC, Trump said that his administration could delay or halt the imposition of tariffs if China " takes positive action." The comments came on Friday, a day after Trump announced that the U.S. would impose new levies on $300 billion worth of Chinese goods, raising fresh fears about oil demand growth, sending oil prices tumbling 8% - their biggest one-day drop in more than four years.The t...

MID MONTH SPECIAL WITH ROYALTRADERS

RoyalTraders Call@9719026661 www.RoyalTraders.co Best Accuracy For Royal Traders Mid Month Special: Join Today Bullion+ Energy+Basemetal Pack @ Rs.10001 For 100 Days With 98% Royal Accuracy Monthly Guaranteed Profit Rs.1.5 -2Lacs Valid Till 2 PM Call-9719036174 www.RoyalTraders.co