FX:USDZAR
I see a bullish pattern forming.
It is a Bullish Triple bottom pattern that has formed.
This could break above break above 17.9500 to reach the high of 18.57988
My bias,the market was overall bearish before the change in trends as a result of the double bottom chart pattern at around the .0 Fib level.
The latest cut of crude supply to the global market by opec will bring a rise in oil price up to 1500 Pips,ie price from current to $97 and a brief pull back before rising to $10. The would likely play out as sanctions on...
Been saying oil markets due for a nice recovery, the R/R is really sweet. OPEC has agreed to cut production 9.8 MBD. This won't be a quick easy trade but once coronavirus is finally contained OPEC
is agreeing to continue its production cuts well into 2021.
Oil futures jumped on Monday after heavy falls in the previous session, reflecting volatility as OPEC officials try to salvage a deal to cut crude production ahead of a long-anticipated formal meeting of the group’s ministers on Wednesday.
The 14-member Organization of the Petroleum Exporting Countries announced a preliminary deal in September to cut oil output...
