Oil key test of $73.24 ahead OPEC meeting

Crude Oil prices (New York) test the key support level at $73.24 a record level since November 14th 2014. World-Signals.com expects mostly that this resistance will keep the price above $73.24 untill the OPEC meeting on November 27th in Wien. If the price break below happens today the movement down will be not so deep by the key level of $73.24. Venezuela and Russia may cut the oil production as also the biggest exporter Saudi Arabia may also support the oil prices with cut of production. World-Signals.com strategy is that the cut of oil production will be not significant and after the OPEC meeting the oil prices may continue down with prices below $70. It is possible prices above $76.00 / $77.00 for a short time.

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