Over the weekend, OPEC+ decided to leave oil production cuts unchanged.
Consumers were slightly concerned that the oil-producing countries would cut supply further than planned. Considering how the price per barrel has sunk recently.
But there’s another catalyst at play today …
Starting Monday, December 5, 2022, there’s a new round of oil sanctions against Russian exports.
We’ve entered a new stage of this global power struggle.
The invasion of Ukraine continues.
Expect oil to be a major catalyst in the near future.
Chinese stocks are still on a run from last week’s vaccination news. Today’s biggest spike is on China Pharma Holdings Inc. (AMEX: CPHI). It also announced an acquisition today.
Here’s a chart, it already spiked +80% today …
Play the patterns and only snake the best trades.
We’re still on a bit of a bull run, but don’t get greedy. Most traders lose because they overtrade.
Get in, play the pattern, and get out.
Benjamin Bull
Managing Editor, Dollar Stock Club
