US CRUDE OIL TECHNICAL ANALYSIS SHORT TERM VIEW
US CRUDE OIL short term pattern double zigzag correction is near to complete or already completed and it is ready to rise above 94.11 levels .Monthly chart also showing major support 77.40 to 85.76 levels and its target is 130 dollar positional with 74 stop loss.Both calculation have same stop loss and first target 94.11 levels .Intraday purpose buying can be done with same stop loss 74 for intraday targets 81.50,82 and 83 respectively.
QUICK FUNDAMENTAL LOOK
WTI crude futures rose to around $81 per barrel on Monday, recouping some losses from the previous session after top crude producers Saudi Arabia and Russia announced that they would stick to extra voluntary oil output cuts until the end of the year, keeping the market tight.
POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.