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Published on Nov 24, 2016
Brent
crude is set for a run-up ahead of the next OPEC meeting at the end of
the month, says Zak Mir, Tip TV’s technical analyst.
Speculation has been growing that Russia may also agree some form of production freeze.
The market is scared of Russia suggests Mir and this will mean a squeeze ahead of the 30 November OPEC gathering.
The price is above the 200 day moving average and the charts point to a rally back to the best of the year of US$57 per barrel or higher
That could happen as soon as early in December, Mir believes.
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