If you are buying this price and think Oil can go 40$, I would say DON'T BUY. This Year Oil price staying below 38$, IF Opec Cut Production price still staying under 40$ as demand level very low and supply three-time extra.
Before any deal or cut Price expecting to hit 18$ or 20$ then price do some correction until 28$ to 33$, but staying below 40$
The OPEC + and the G20 energy ministers meeting is expected to last for two whole days on April 9 and 10. The price of the oil dropped in anticipation of these events as there is still no agreement between the countries participating in these negotiations. A significant short-term impulse took place yesterday at the American session, which brought the May oil quotes closer to the price of $23 per barrel. Where in the framework of the stop trap system is located the so-called "Buyers' platform" - an area where buyers can hide their risks over the past few days of growth
🛑SUPPORT/RESISTANCE
✅S1= 23
✅S2=20
✴️R1=25
✴️R2=28
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Before any deal or cut Price expecting to hit 18$ or 20$ then price do some correction until 28$ to 33$, but staying below 40$
The OPEC + and the G20 energy ministers meeting is expected to last for two whole days on April 9 and 10. The price of the oil dropped in anticipation of these events as there is still no agreement between the countries participating in these negotiations. A significant short-term impulse took place yesterday at the American session, which brought the May oil quotes closer to the price of $23 per barrel. Where in the framework of the stop trap system is located the so-called "Buyers' platform" - an area where buyers can hide their risks over the past few days of growth
🛑SUPPORT/RESISTANCE
✅S1= 23
✅S2=20
✴️R1=25
✴️R2=28
Please like, share, comments and follow me to get daily base analysis
Thank you for your support, I appreciate it.
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