But fall is for better rise!There is an obvious change: the overall trend of crude oil has U.S. crude, has formed the shape of the bottom on the drawing, the price in early October strong breached $52 near the neck line, established the basic building at the bottom of the landscape.But it is worth noting that the current neckline has not yet been tested by the price, which has been boosted by an increase in crude oil production and an extension of the Saudi iron fist.The agreement to cut production between Opec and non-opec is due to expire in March 2018, with renewed calls for a renewed cut.Saudi Arabia's energy minister mana Hector said recently that the gap is shrinking, the decline in inventories, Opec led is very good, the implementation of the distributed protocol Opec and its Allies is expected to extend the production agreement.Russian President vladimir putin also said he could extend the deal to the end of the year.This has a role in reducing the supply of oil .
On the other hand, Saudi Arabia has pursued an anti-corruption drive, arresting 11 princes and nearly 40 ministers.It reflects the leadership's implementation of economic reform, gradually reducing its dependence on crude oil , diversifying its economy, and reducing the impact of low oil prices on the national economy.It also means that Saudi Arabia is more willing to slash output than to compete with Russia and the United States for crude oil prices.It also helped push up market expectations.
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