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OPEC-ally yours

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The week begins with the recent OPEC remarks. As reported, the supply of oil is increased to 1M barrels a day and this is music to CAD's ears. With CAD being more stronger, there are significant possibilities that the pair will go further down.

Strong technicals here. USDCAD broke the 4 and 8 day trend respectively. It tested a one year resistance and nothing more is needed. Divergences too are spotted.

Ok so let's get this straight. You can't expect anything till the market open. First identify the volume in the opening bell. Afterwards, it should determine the trend direction. Hope it will be bearish. Do trade cautiously and on your own risk.

Thank you.

Riz.

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Claps to UC longs...