Crude Oil Technical Analysis – Positive gap on OPEC+ production hike delay ...Middle East

Fundamental OverviewCrude oil opened the day with a positive gap today following the weekend news of OPEC+ delaying the December production hike. In the big picture, central bank easing generally leads the manufacturing cycle, so we can expect global growth to pick up and support the crude oil market. One risk that might be weighing on the market is the US election as a Trump victory might be bearish due to increased supply expectations.It’s worth remembering that in 2016, crude oil did fall initially on Trump’s victory but eventually rallied for more than 20% in the following three months on higher global growth expectations. In case we get a red sweep, the market will likely focus on globa

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Crude Oil Technical Analysis – Positive gap on OPEC+ production hike delay ...Middle East

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