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Back to the board, open XTIUSD chart FXOpen in Tradingview, monitor oil price

Oil prices declined again yesterday at the price level of 76.55 after previously being at a high level of 79.64.

Saudi Arabia is expected to extend cut oil production until 2024 citing oil prices that are still too high and fundamentals that are still too strong to support a reversal.

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Back to the board, open XTIUSD chart FXOpen in Tradingview.

Oil price continue decline in yesterday market, the price even formed new low 72.36, and forming long body bearish candle.

Now oil price near lower band and here dynamic support based Bollinger band, beware for retracement since RSI shows level price now near oversold zone level.

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Back to the board, open XTIUSD chart FXOpen in Tradingview, and monitor oil price.

Oil price today traded at 75.91 on FXOpen Tradingview. Oil prices tried to rise after dropping to a low level of 72 on 16 November few days ago.

There are new rumors related to oil, OPEX is said to be paying attention to an additional 1 million bpd output cut.

Despite OPEC not being involved directly in the war between Hamas vs Israel, they have have high role in the oil market.

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Back to the board, open XTIUSD chart FXOpen in Tradingview, monitor oil prices.

Oil price in yesterday market drawing bulls candle with small mick on top candle, the price continue rising and record high 78.44 and low 74.90.

Rumor OPEC+ extend cut production 2024 gives impact to oil market.

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Back to the board, open XTIUSD chart FXOpen in Tradingview, monitor oil price

Oil prices in yesterday's market still forming a doji candle as an indecision market, the opening price is near the close price with a small difference 8 pips.

The oil market will focus on the OPEC meeting held on 26 November. Rumors OPEC to extend production cut still become a concern oil traders

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Back to the board, open XTIUSD chart FXOpen in Tradingview.

Oil market in yesterday move highly volatile, the oil price plunge roughly 4% from high 77 to low 73 level prices. oil prices fell because on Wednesday morning after confirmation that this weekend's OPEC+ meeting would be postponed. The postponement has been linked to Saudi Arabia's dissatisfaction over the production levels of other members.

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Back to the board, open XTIUSD chart FXOpen in Tradingview.

Oil prices still depreciated below 77 level price, yesterday the price drop again and fail to crosses middle band line.

The price still get impact from delay meeting OPEC+, and there is new threat on oil shipping amid war Hamas vs Israel.

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Back to the board on Monday market, 27 November.

Open XTIUSD chart FXOpen in Tradingview, oil price still below 77, now traded at 75.64, there are small gap in this morning, the price open far below previous close.

OPEC+ Meeting 30 November, Bloomberg survey predicted that the expanded cartel would continue cutting ~1 million barrels per day through 2024. Six analysts predicted there would be additional restrictions on top of that for all cartel members, and two analysts predicted that, once again, the only countries that would become cartel members were Saudi Arabia and Russia.

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Back to the board, open XTIUSD chart FXOpen in Tradingview

Oil price still traded below 77, today oil price at 75.23 and there is decreasing volatility seen by narrowed Bollinger band.

Seems many traders still waiting for OPEC+ meeting in 30 November, with possibility extend cut production until 2024.

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Back to the board, open XTIUSD chart FXOpen in Tradingview, monitor oil price

Oil prices eventually broke the 77 price level and drew high of 77.04 in yesterday's market. However, there are negative rumors about the OPEC+ meeting probably further delayed

There appears to be unrest among OPEC members and an extension of the previous agreement is a possible scenario, with deeper production cuts being unlikely, four OPEC+ sources told Reuters on Tuesday.

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Back to the board, open XTIUSD chart FXOpen in Tradingview, monitor oil price.

Oil price eventually reached 77 and cross middle band line now at 77.69 at time of writing.

Oil price rising as market focused OPEC+ meeting, despite there is rumor further postpones.

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Back to the board, open XTIUSD chart FXOpen in Tradingview.

Oil market in yesterday drawing wavy, the price reached high 79.60 but gets pressure and back to 75 level prices. Oil price dropped after OPEC+ meeting in yesterday market.

Analyst Oilprice wrote that Oil Prices Retreat As OPEC+ Cuts Another 684KBPD, according to him oil prices fell again after OPEC+ concluded its Ministerial Meeting. with the results of the All together meeting, the total voluntary cuts for the first quarter was 2.184 million bpd, besides that Brazil will officially join OPEC+ effective in January

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Back to the forum, open the XRIUSD chart FXOpen in Tradingview

Oil prices are currently still trading at a low level of 75, even though the OPEC+ meeting made an important decision to cut production, it seems that the short-term impact is not yet obvious.

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Back to the board, open XTIUSD chart FXOpen in Tradingview.

Oil price seems reluctant to rise, the price even dropped to at low of 72.74 in yesterday's market. Seems the OPEC+ meeting result still not gotten a response from investor oil, or because China's demand is still low and can't make the price rise despite the war making worried oil shipping and causing rising oil prices. Many analysts get wrong at the moment.

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