Short USOIL

8 thg 8, 2017

USOIL the pair have huge volatility expecting this month, as OPEC have The two-day gathering in Abu Dhabi, United Arab Emirates, will focus on members’ compliance with the output pact the cartel signed with 10 other oil suppliers, including Russia, in late 2016. The deal so far hasn’t produced meaningful effect in tamping down global output or inventories.One major development the market will be watching for from the OPEC meeting is whether Libya will join the agreement to cap production.As technically the pair trading below strong resistance around 49.70, if it break the immediate target around 50.30/50.80, below the strong resistance we can see one more leg towards 48.55/47.80.

Short term trading.

Sell USOIL @49.30/50

Target: 48.40/47.90
Stop loss: 49.90

gud luck !

#forextuitions