tradeideas-disscussion: 2019-12-04 USOIL

Dec 4, 2019

Market retests the bearish bat pattern in four hour chart, the potential reversal zone (PRZ) is between 58.47 and 58.05. There is also a bearish bat pattern, which completed in one hour chart which has a similar PRZ ( 57.98-57.77). One of the topics discussed in the meeting that OPEC holds this week is whether delaying cut extensions or not, therefore, the market may have a great fluctuation after releasing the results. I will back to this market until the release of results and when the chart becomes stable. I would then decide whether I would trade those bearish bat patterns or not.

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