Crude Oil at resistance. Crude Oil at resistance level, going above 61.535 opens the upside to 63.60/64. Buy on daily close above 61.535. Attention to fundamentals, inventories, and OPEC before decision is made.
Oilinvestments
OIL REMAIN BULLISHAll non-OPEC producers were called upon to help stabilize the market b'cos their role was as critical as the role of OPEC members- and as we all know Oil demand is expanding at enormous healthy rate despite the slower global growth. - Eyeing = 56.1 very soon (within 2weeks)
One of the famous oil investors suggest that freezing production or in other words urges them to slightly reducing production, - OPEC wanted to send a signal to the market that it wanted to lower inventories as a way of encouraging investments.....but no one knows if both OPEC members & Non OPEC members will buy this idea - nonetheless, prior to making up their mind - oil will continue doing what's doing for now & once they decides to reduce production? then we may see oil drop back south (46.1) before Christmas or by Christmas:)
