Our overview: Strong GDP in US, and hope on the OPEC+ meeting, offset the build in crude stockpile. A bigger then expected production cut would push for a Christmas rally. Today is mandatory stay neutral at least till is gonna be clear the OPEC+ policy.
Technical signals: RSI and Stochastic positive.
Trends analysis: We maintain an overall positive overview with a potential extension till $81.50/$82.00 if OPEC+ will confirm a robust production's cut. Primary(purple): downward impulsive structure wave 4 with target @$80.00/$82.00, intermediate(green): corrective structure wave C, minor(yellow): upward impulsive structure wave 3.
Our current position @$78.78(in scale to a basic number of contracts :
current delta: 0.137
current gamma: 0.198
Targets
$81.00
$79.75
$78.70
$77.00
$76.40
$75.80
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