USOIL chart - Trading View
WTI crude oil prices spiked over 2.30% and were trading at $68.59 at the time of writing.
Oil markets were buoyed after the OPEC+ alliance forecasts a tightening global market ahead of a production policy meeting.
A robust recovery in the U.S. and Europe has given OPEC+ reason to believe that markets can absorb additional supply, should Iran nuclear deal be revived.
Further, OPEC Secretary-General Mohammad Barkindo said at a meeting on Monday that Iran’s comeback “will occur in an orderly and transparent fashion.”
He noted that the event will not upset the current stability that other OPEC+ nations have toiled to achieve.
Oil prices trade with a strong bullish bias. Momentum studies are strongly bullish. 200-month MA at 69.89 in sight.


FxWirePro: USD/ZAR firms ahead of Fed interest rate decision
FxWirePro: GBP/USD edges higher as traders await BoE guidance and UK fiscal clarity
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/ CNY remains soft ahead of Fed decision
FxWirePro: USD/JPY eases ahead of Fed decision , Intervention risks linger
EUR/JPY Holds Bullish Bias as Euro Extends Recovery
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/AUD gains some upside momentum but still bearish
FxWirePro: EUR/ AUD gains some ground , but remains on bearish path
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI
FxWirePro: USD/ZAR retreats but trend is still bullish
Major Forex Pairs Action Bias: GBPUSD and AUDUSD Turn Extremely Bearish
Crypto Action Bias: ETHUSD Stands Out as the Bullish Pair to Watch
FxWirePro: GBP/USD edges lower ahead of Fed policy verdict
AUDJPY Weakness Deepens: Sell Rallies Toward 112 as Aussie Dollar Falters 



