Oil set to lose steam after OPEC+ meeting delayed and Russia-Saudi price war continues. MACD is showing the black liquid to be extremely overbought and at $28 is touching a major resistance level.
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Thank you for everyone who likes and shares this analysis.
Really appreciate it
Connor
For more full analysis and signals, trading ideas and tips feel free to subscribe to my newsletter. The Margin Call on Substack.
Thank you for everyone who likes and shares this analysis.
Really appreciate it
Connor
Trade active:
One of my favourite trades if this year so far. Instant profit and looks like it will keep pushing. The fundamentals are the major factor here if OPEC+ can reach a good deal then expect a reversal. The technicals show me that the market is overbought in the short term. Still have $22 on my radar
Trade closed: target reached
