black gold under bearish pressure + OPEC, weak global demand
Updated
the oil markets find themselves in a bearish chokehold with a number of factors weighing down on it such as the OPEC ( Organization Of Petroleum Exporting Countries) are expected to meet later this month on the 26 November 2023, there is a strong sentiment that they are expected to continue to cut production and distribution due to weak global demand.
technically i find that supply of proximal price @ 78.20 is in control of price and price is struggling to gain bullish momentum to keep trading above price of interest (support and resistance) @ 77.20
i have overall targets to liquidity areas @ 75.00
put together by Pako Phutietsile ( currencynerd )
technically i find that supply of proximal price @ 78.20 is in control of price and price is struggling to gain bullish momentum to keep trading above price of interest (support and resistance) @ 77.20
i have overall targets to liquidity areas @ 75.00
put together by Pako Phutietsile ( currencynerd )
Trade closed: stop reached
took me out and reversed where i had my stops only to go my way! will get it on the next one
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