We can see the crush that happens this week for oil prices is due to the disagreement in the OPEC meeting for August production over the oil production where UAE want to increase the oil production and the market disruptions due to the coronavirus number of cases in the UK, Singapore...
Maybe, OPEC + tomorrow's Meeting will give some good news about oil production.
You find in this video my analysis for OIL , which is near the buy zone. I expect the price to rise more and more till the end of the year where we can touch 90$. According to my set of rules, in the H4 frame OIL will rise to 72 . Our Weekly Goal is 73.3. So we are looking for a pullback to repeat what we have marked up and executed over the last few days, demand is still there. Simply looking to buy the dips effectively, the still here since April 2020.
Currently, OIL is moving towards the support level of 66.5 from this value we are looking for short-term buying opportunities of OIL.
Good Luck and enjoy your Market.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!