While WTI OIL is making new lows, Bret OIL stopped its descend and is consolidating in the 28 old resistance area. I believe next week will be one of gains for both WTI and Bret and I'm looking to buy Bret OIL for a retest of 35-36 resistance. Also, a buy trade can have a comfortable 1:3 risk: reward ratio.
Oil market WTI declined on Wednesday but Brent continues to grow, fluctuating about a month's high, as Saudi Arabia said it is determined to end the supply surplus that has been holding prices for the third consecutive year. Energy Minister al-Falih said that the kingdom will do everything necessary to reduce oil reserves in industrial countries to an average of...