Crude oil price dips despite OPEC+ considering supply hike delay ...Middle East

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Crude oil price dips despite OPEC+ considering supply hike delay
source : forex live ( Middle East ) () 31
The price of crude oil is trading lower despite rumors that OPEC+ is close to delaying the planned supply hike. That comes after report on Friday that they would bring back barrels in October. The price has dropped from a high on Friday of $76.59. The current price is trading at $69.85Technically,. The high price from last week reached on Monday extended to $77.60. That was just short of its 200 day moving average (green line on the chart above). Stay below that moving average is more bearish.The price has also moved back below a lower triangle trendline and also a recent floor near $71.41 (see chart above). The high price today stalled against that old floor giving the sellers the go-ahead

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