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Tomorrow is a big day for a lot of energy oil traders. OPEC will be having its meeting on Dec 5th-6th in Vienna, Austria.
Since October 2018, oil has dropped 35% and I have caught the tail wind of it and made some money. Judging by the looks of the global sentiment of the market, things are not looking good at all. But I do have a strong opinion that production cuts will be announced tomorrow.
Please share your thoughts, concerns, or any predictions.
Can you help answer these questions from other members on NexusFi?
OPEC (with their new friend Russia) don't have the leverage they had before the hydraulic fracturing era.
So while they may announce production cuts it should not change the global trend.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
Mid-November's low 55 as previous Low is holding down.
Yesterday, price action at Double Top @54.44 YHigh made me think that it's LIS.LineInTheSand for Bears.
If November's Low @49.41 Low not holding up, then aiming for T47-44.
Note:
Good news is Sunday's 2 points GapUpOpen filled, finally!
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
