Concerns over Oversupply.
*Energy Minister Rohbak's remarks that there is a supply glut
The possibility of additional production of 500,000 bpd remains in the near future
News of 30 oil refiners going bankrupt may limited the fall
There is no clear direction ahead and downward pressure is expected to prevail :)
Crude oil Short Strategy with resistances above and target zones depicted on the chart.
Thank you and Merry Christmas :)
*Energy Minister Rohbak's remarks that there is a supply glut
The possibility of additional production of 500,000 bpd remains in the near future
News of 30 oil refiners going bankrupt may limited the fall
There is no clear direction ahead and downward pressure is expected to prevail :)
Crude oil Short Strategy with resistances above and target zones depicted on the chart.
Thank you and Merry Christmas :)
Trade active
Trade closed: target reached