XLE to break bullish triangle + OPEC cut
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OPEC threatens to cut oil prices ten times more than in September in an attempt to plug the oil drain.
- The New York Times' sources estimate that the agency is considering announcing a cut of between 500,000 and 1 million barrels per day, about 1% of global supply, because the market is oversupplied and demand is softening due to the weakening global economy.
This plus the bullish triangle a good take profit could be around 90-93 usd.
- The New York Times' sources estimate that the agency is considering announcing a cut of between 500,000 and 1 million barrels per day, about 1% of global supply, because the market is oversupplied and demand is softening due to the weakening global economy.
This plus the bullish triangle a good take profit could be around 90-93 usd.
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