Quick Decision on Oil

Quick Decision on Oil

Oil had been in a uptrend for a short period of time, we made a quick decision on crude oil.

We decided on a quick sell trade, as we believe price had been touching resistance level.

However with news that OPEC to be cutting crude output by as much as 1.8 million barrels per day.

Despite the recent cuts, analysts say supply is still going to be meeting demand, we could soon see another rise in price.

Oil Trade

(Our trading and image was done using an account with UK based broker IG)

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*Please Note, Forex and other forms of trading carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 


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