5:44 PM · 29 November 2022

BREAKING: Oil slides after Reuters report

OIL.WTI pulled away from major resistance around $80.00 as OPEC+ may maintain its current policy, according to Reuters. News agency cited five sources, of which three of them suggest that it is likely to stick with its existing quotas at Sunday's meeting. However, the other two suggest that the cartel could consider further cuts.

OIL.WTI erased all early gains and is currently testing 38.2% Fibonacci retracement of the last upward wave. Should break lower occur, downward move may deepen towards lows at $74.00. Source: xStation5

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