In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we observe Oil and US500 both squeezing higher.
Let’s begin with a market which is slowly grinding higher, that being the USOIL market. We must note that we have had a monthly OPEC and JMMC meeting today where more than 90% agreed to overall Feb. output cuts. This is likely to help support the price of USOIL. As a result, we would hope to see prices continue higher above yesterday’s high of 59.50.
Oil and US500 Both Squeezing Higher – Full Video Analysis
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