My previous analysis now seems a bit optimistic. The larger picture is still unchanged though.
Several points:
1. Rig is the leader in OSD so the strength of the overall market helps a lot
2. The market is pricing in a lot of the negative news. Even if no deal in this OPEC meeting, any news on continuous deal efforts could keep oil bears in check
3. There is a strong technical support around $8.70-$8.80 area
4. $11.35 still obtainable by year end
5. The blue and red arrow provide 2 likely path for the next few days
Several points:
1. Rig is the leader in OSD so the strength of the overall market helps a lot
2. The market is pricing in a lot of the negative news. Even if no deal in this OPEC meeting, any news on continuous deal efforts could keep oil bears in check
3. There is a strong technical support around $8.70-$8.80 area
4. $11.35 still obtainable by year end
5. The blue and red arrow provide 2 likely path for the next few days
Nota
So far the prediction is on target.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.