Good afternoon, dear traders! I present to you the trading idea for oil.
The OPEC + and the G20 energy ministers meeting is expected to last for two whole days on April 9 and 10. The price of the oil dropped in anticipation of these events as there is still no agreement between the countries participating in these negotiations.
A significant short-term impulse took place yesterday at the American session, which brought the May oil quotes closer to the price of $23 per barrel. Where in the framework of the stop trap system is located the so-called "Buyers' platform" - an area where buyers can hide their risks over the past few days of growth:
I propose to consider the short-term idea for the breakdown of the buyers 'platform at the price of May 23.3 futures contract.
A breakdown can occur during the OPEC + summit on Thursday and Friday and can either be true or false. In the case of positive agreements, the growth of the quotes of black gold through the false breakdown pattern can go.
Success in trading and control the risks!
