Oil drops On China Fuel Reserves Release; OPEC + Meeting In View

in #china • 3 years ago

Brent Oil was trading 0.53% down at $83.26.

Oil prices dropped on Monday as China’s release of gasoline and diesel reserves eased concerns over tight global supply, while investors cashed in ahead of a Nov. 4 meeting of major crude producers that could increase future production targets.
Screenshot_2021-11-01-21-47-26-26_40deb401b9ffe8e1df2f1cc5ba480b12.jpg

Brent Oil, RSI Stood at 53.904, the current price is trading above the Moving Averages 20 & 50. So, a Buy trade can be executed with the following target and stop-loss:

Trade Signal - Brent Oil– Buy: 83.20, Target :-89.20, Stop Loss:- 80.20.

#opec #brent #oil
3 years ago in #china by
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