WTI Crude breached the 200 period SMA on the daily chart, hitting our long entry resistance targets at $40 and $41 pbl, as it ended yesterday’s session on a two week high close after OPEC+ agreed to extend the compensation period for overproduction till end of December as the Saudi oil minister warned short traders whilst telling them to “make my day” ! Looking for an hourly close above 41.50 resistance level to favor further upside with 42.50 as the next major resistance.

Support: 41 / 40
Resistance: 41.50/ 42

Risk Warning: 56.82% of retail CFD accounts lose money

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