Daily Alert – Tuesday 28th November 2023: WTI making a move ahead of OPEC+ meeting

Mark NugentDaily Alert, Nov 2023

Daily Alert – Tuesday 28th November 2023: WTI making a move ahead of OPEC+ meeting

Good afternoon.

There is little happening to frighten the horses. Equities are flat and the major currencies are not bending to my will. Frustrating.

I am very keen on oil. WTI is moving up nicely from support. I will look at this closely tonight with a view to going long. We have the OPEC+ meeting on Thursday and there is an expectation that the current production cuts in Saudi Arabia and Russia will be continued into 2024.

I will be back tomorrow.

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