Saudi Arabia extends oil cuts through end of 2024, expectations for upcoming oil rallies

Saudi Arabia plans to extend its voluntary oil production cut until the end of December 2024,

After the previous surprise announcement that they would extend voluntary cuts of one million barrels per day until the end of August.

Technically: Crude oil jumped after this news near $76.00 before slipping again at levels of 74.00 and its transformers which is a good buying opportunity for oil near current support levels at levels of 74.00 and till levels of $72.70 a barrel as oil now trades the highest levels of the four-hour bull trend on the frame as we now target the completion of the harmonic pattern 

stop-loss  72.65 with breach 4 hours candle down.

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