Tag - oil

Brent is trying to gain

This week Brent has reached the highest levels since the end of September. It looks like oil has bottomed. Yesterday the price met resistance at 61.80 (100-day MA).

Oil market updates on October 23

According to yesterday’s news OPEC is considering further production cuts. The next meeting of oil-producing countries is scheduled for December 5-6. The announcement pushed the oil prices up yesterday.

Oil is at the key support

Technically WTI is testing levels below the 200-week MA. This makes it vulnerable for the retest of June and August lows.


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