24 July - OPEC meeting
SCENARIO 1
no production cuts on Libya, Iraq and Nigeria
The price should go up until top of channel 49.60 (max) and then fall down to low 40 - 39.
PS there should be a strong resistance at 47.30
SCENARIO 2
granted cuts on Libya, Iraq and Nigeria oil production.
The price should go up to test the resistance at 47,30.
There could be a retracement down to low 44 and then run for 10$ OPEC movement over 52-54