USOIL prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States. U.S. crude production has broken through 9.5 million barrels per day (bpd), its highest since July 2015, but analysts say growth may slow as U.S. energy firms cut the number of rigs drilling for new oil."It looks like the growth in U.S. production is quickly running out of steam and, all else being equal, this should be good news for OPEC and the price of oil, As technically the pair trading above the trend range under 1hr time frame , we have strong support around 47.20 on 4hr time frame, we can see bounce towards retest $50.
BUY USOIL
@47.50/47.20
Target: 48.50/49.00
Stop loss: 46.90
Gud luck !
#forextuitions
BUY USOIL
@47.50/47.20
Target: 48.50/49.00
Stop loss: 46.90
Gud luck !
#forextuitions