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