Crude Oil Rally Hindered by Gap Resistance, OPEC+ Meeting in Limbo
Doubts remain whether today‘s OPEC+ meeting will take place, with no official confirmation one way or... moreCrude Oil Rally Hindered by Gap Resistance, OPEC+ Meeting in Limbo
Doubts remain whether today‘s OPEC+ meeting will take place, with no official confirmation one way or another to guide traders. The meeting was originally set for June 9-10 but talk surfaced late-May that the meeting could be forward to today to announce an extension of April’s production cuts. The 9.7 million barrel per day production cut runs out at the end of June and market talk is that OPEC+ members may extend these cuts for another month to help balance faltering demand.To get more news about WikiFX, you can visit wikifx news official website. Crude oil has rebounded sharply off its late-April low with little in the way of any consolidation. A series of lower highs highlight the recent positive sentiment in the space and recent price action has taken crude to the bottom of a gap on the daily chart made between March 6 and March 11 this year. Followers of gap trading normally look for any gap to be filled as there... less
Crude Oil Rally Hindered by Gap Resistance, OPEC+ Meeting in Limbo
Doubts remain whether today‘s OPEC+ meeting will take place, with no official confirmation one way or... moreCrude Oil Rally Hindered by Gap Resistance, OPEC+ Meeting in Limbo
Doubts remain whether today‘s OPEC+ meeting will take place, with no official confirmation one way or another to guide traders. The meeting was originally set for June 9-10 but talk surfaced late-May that the meeting could be forward to today to announce an extension of April’s production cuts. The 9.7 million barrel per day production cut runs out at the end of June and market talk is that OPEC+ members may extend these cuts for another month to help balance faltering demand.To get more news about WikiFX, you can visit wikifx news official website. Crude oil has rebounded sharply off its late-April low with little in the way of any consolidation. A series of lower highs highlight the recent positive sentiment in the space and recent price action has taken crude to the bottom of a gap on the daily chart made between March 6 and March 11 this year. Followers of gap trading normally look for any gap to be filled as there... less