Oil rebound ahead of informal talks to discuss a potential freeze

Oil rebound ahead of informal talks to discuss a potential freeze

Rami
05 (09) 2016 - 08:13 (GMT)
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Oil prices rebound from lowest levels last week ahead of the informal talks to discuss a potential production freeze after OPEC's crude output rose to a new high last month as members from Saudi Arabia to Kuwait boosted production.

Oil managed to hit (46.00) levels where last Intraday-Levels report show ability for such rebound correction before headinf for farther drop movement (for more details click here).

as long as market holding below (46.60) the downtrend wave will sustain toward new targets for (42.00-20) zone over Intraday-Levels.

above (46.60) market will face resistance at (47.35) & (48.45).

CRUDE OIL - WTI

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Rami

Rami

Hi all, my name is Rami, with more than 16 years experience in Forex Market, switching from Brokerage field to Fund Management and Risk Management specialty.I had an idea to establish a Home Page to present my thoughts on Forex Market from three different angle or prospective, Mid-Run, Short-Run & Intraday movements .

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