Similar pattern showing up
I am not calling for oil armageddon, BUT there are certain similarities to what happened for the large drop a while back. To the shorter Term analysis I do think a lot of the price movement for a positive note out of OPEC have been priced in. I cannot imagine a sustained rally coming from that announcement without a 5-8% drop first.
Hope this helps anyone out
Hope this helps anyone out
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.