orvilleawright

Oil surges higher as OPEC agreed to reduce its oil output

TVC:USOIL   WTI 原油差价合约
Oil             surges higher as OPEC agreed on Wednesday to reduce its oil             output to 32.5 million bpd from the current production levels of around 33.24 million bpd.

Price approaching higher selling zone at 47.5x - 47.7x. Look for bearish price action.

Look for pullback into support for buying opportunities.

Nice chart. And how its with Russia ? I was watching bloomberg and some journalist there said that if OPEC will cut output , Russia will cooperate and will cut too. Any clues ?
回复
orvilleawright andrej123456
Thanks Andrei. I rally don't know if Russia will cut output or if OPEC will follow through on their promise. However from a trading perspective the market has reacted to the news by trading oil higher. Occasionally I am aware of what causes the market to move but I predominantly trade based on technical analysis. Andrei, currently I pay 0 attention to journalist and their opinion. I pay more attention to the charts. Note that it is possible that the market never had to respond to the news by accepting higher prices. That said from a technical perspective we are currently at the top of a bull channel on the 1H chart, the end of a measured move and also at the top of a wedge on the 4H chart. If I am a bull I would be waiting for a retracement irrespective of how much the TV analyst tout up the prices. As Larry Pesavento says 'TRADE What You SEE'. and ensure that you trading decisions are based only on YOUR OWN trading system which your have tested and you are certain that it has positive expectancy.

Hope that helps and thanks for the comment.
+1 回复
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
AR العربية
首页 股票筛选器 外汇筛选器 Crypto Screener 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
个人资料 个人资料设置 账号和账单 我的支持通知 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出