WTI bulls to test the important 46

FXStreet — WTI is trying to reach the 46, after the today the Deep in 45,53 was formed. The rising appetite for risk followed the Macron victory, as the political uncertainty in Europe has decreased.

The oil Minister of Saudi Arabia, Khalid Al-Falih, said today at the Asia Oil and Gas conference in Kuala Lumpur that he is confident that the Deal to the reduction of Production is to be expanded. He also suggested, that this agreement may be continued up to the year 2018.

The organization of the petroleum exporting countries is meeting on January 25. May in Vienna may be a appropriate announcement. By the end of June there is between OPEC and non-OPEC producers to reduce the agreement, the daily production of 1.8 million barrels. Important levels 46,20, 47,30, 48,00, 49,00 (200-day EMA) and 49,20 (20-day SMA).

** FXStreet News Editorial, FXStreet**

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