The harmonics support the fundamentals.
Fundamental Analysis of oil – Friday 27 September 2019
Oil futures extended a decline after Iranian President Hassan Rouhani said the US offered to remove all sanctions on the country in exchange for talks. In fact, oil prices dropped to a low of $54.75/bbl. In response to the comment from Iran, Brian Hook, the US special representative for Iran, was quoted as calling Iran's claims ‘baseless’. Subsequently, oil prices is now back up to $56.26/bbl.
Go long.
Fundamental Analysis of oil – Friday 27 September 2019
Oil futures extended a decline after Iranian President Hassan Rouhani said the US offered to remove all sanctions on the country in exchange for talks. In fact, oil prices dropped to a low of $54.75/bbl. In response to the comment from Iran, Brian Hook, the US special representative for Iran, was quoted as calling Iran's claims ‘baseless’. Subsequently, oil prices is now back up to $56.26/bbl.
Go long.