Expertcrudeoil.com - Oil close to 2019 highs on OPEC supply cuts, US sanctions
Brent crude oil fates were up 10 pennies at USD 67.64 per barrel, additionally near the current year's pinnacle of USD 68.14 achieved before the end of last week.
Oil costs were almost 2019 highs on Tuesday, upheld by supply cuts driven by maker club OPEC.
US sanctions against oil...
CMI built up a Bottom on a Long lasting supportzone at 130$. Double (or tripple) Bottom finished with the break of the resist at 153$.
Profittarget is at 178$ which nearly perfectly fits to the Setup. Two factors support this target:
1. The Zone at 178$ was an old resistance
2. If you add the width of the range to the breakout Level than you will get the same...
HBI is in a Long Lasting downtrendchannel. A nice bearish engulfing built up near the upper Bound of the channel in the Weekly timeframe that maybe Signals the end of the upside leg. Take a shortposition the next week.
Oil prices firm as supply deficit emerges amid disruptions.
Oil costs were firm on Friday in the midst of generation cuts driven by OPEC and as US sanctions against Venezuela and Iran likely made a slight deficiency in worldwide supply in the main quarter of 2019. In any case, oil costs have been topped by worries that a financial lull will before long begin...