Hello Traders
This week oil price jumped almost +12.5$ from the opening price on Monday and ended in a big green weekly candle.
2 major factors affected Oil prices:
1- OPEC has reduced its production limit.
2- Cold seasons started in Europe and demand for energies such as oil has soared.
Technically:
1- Price has broken a falling wedge pattern.
2- Price has made a big green weekly candle.
3- Also the price has made a local higher high indicating a reversal in trend.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
This week oil price jumped almost +12.5$ from the opening price on Monday and ended in a big green weekly candle.
2 major factors affected Oil prices:
1- OPEC has reduced its production limit.
2- Cold seasons started in Europe and demand for energies such as oil has soared.
Technically:
1- Price has broken a falling wedge pattern.
2- Price has made a big green weekly candle.
3- Also the price has made a local higher high indicating a reversal in trend.
If you like it then Support us by Like, Following and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
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.
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.