Oil has shot up after OPEC cuts however please look at the way oil has moved up, on news only. Technically oil is still weak , long term trend is still down. Also remember, opec cuts don’t mean that members follow the rules. Past history has shown that rogue oil producers still continue to overproduce and dump oil. So oil could be a short at these levels but please be careful and do your own research. Trading is always risky because news events can turn things anytime.
Disclaimer
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.