Crude Oil ReverseAfter a scary downside week the crude i anticipate for a 4% bounce back to 75$.
The fundamentals are mixt base on the empty words ceasefire between Israel and Palestina with had also a impact in moving the price down. But over the weekend US have stike as response to Iran Attack witch may cause an impact in creating big moves. Should we not forget the OPEC meeting were the hold the cutting production plan in March.
Technicaly after a big fall comes a small bounce. The indicators and the upper trend tell us that the price can consolidate at 70-72 range. The bounce will show us how the players are betting this week after a strong US economical reports.
Buy 72.33$
TP1 74$
TP2 75$
SL 71$
Good luck guys!