Trading position (short-term; our opinion): No positions are justified from the risk/reward perspective.
On Friday, crude oil gained 1.21% as OPEC deal continued to support the price of the commodity. In this environment, light crude re-approached the Oct high. Will we see fresh 2016 peak in the coming week?
Let's take a look at the charts below to find out (charts courtesy of http://stockcharts.com).
On Friday, we wrote the following: