{"id":24518,"date":"2023-04-04T07:25:04","date_gmt":"2023-04-04T07:25:04","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/opec-surprise-cuts\/"},"modified":"2023-06-29T20:26:40","modified_gmt":"2023-06-29T20:26:40","slug":"opec-surprise-cuts","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/es\/opec-surprise-cuts\/","title":{"rendered":"OPEC+ Surprise Cuts: Implications and Trading Opportunities"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>Over the weekend OPEC+ has announced a production cut of over one million barrels a day from May up until December. That saw the price of <a href=\"https:\/\/www.fxglobe.com\/crude-oils-slippery-slope\/\" data-type=\"post\" data-id=\"24370\">Crude Oil<\/a> and Brent Oil opening on Monday with a gap up.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/CL-D-1-scaled.jpg\" alt=\"\" class=\"wp-image-11704\"\/><\/figure>\n\n\n\n<p><a href=\"https:\/\/www.fxglobe.com\/2023-will-crude-oils-rise-again\/\" data-type=\"post\" data-id=\"24346\">Crude Oil<\/a> has been in a sideways pattern since December 2022, the recent break to a Daily and a Weekly Lower Low was met with strong buying pressure that managed to push the price back to the middle of the consolidation area. OPEC+ announcement on the weekend, saw the market trading closer to the upper level of the consolidation around the level of 83.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/CL-W-1-scaled.jpg\" alt=\"\" class=\"wp-image-11709\"\/><\/figure>\n\n\n\n<p>As the <a href=\"https:\/\/www.cnn.com\/2023\/04\/02\/business\/opec-production-cuts\/index.html\">market<\/a> is still trading in it\u2019s consolidation area, to consider a long setup, I\u2019ll be looking for either strong compression of price underneath the 83 for a potential break higher, or a break with a decisive close above the level followed by a retrace.<br>However, as the market moved higher fast, the first breaking attempt could have a high likelihood of failing, and therefor may potentially offer a quick counter trend move, in the form of a break and reject.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/CL-M-1-scaled.jpg\" alt=\"\" class=\"wp-image-11714\"\/><\/figure>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! Over the weekend OPEC+ has announced a production cut of over one million barrels a day from May up until December. That saw the price of Crude Oil and Brent Oil opening on Monday with a gap up. Crude Oil has been in a sideways pattern since December 2022, the recent break [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":21393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"OPEC+ Surprise Cuts | %%sitetitle%%","_seopress_titles_desc":"Explore the impact of OPEC+ surprise cuts on oil prices and global markets. Learn about trading strategies in response to this development.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-24518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/comments?post=24518"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/posts\/24518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media\/21393"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/media?parent=24518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/categories?post=24518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/es\/wp-json\/wp\/v2\/tags?post=24518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}