Oil Caught Between U.S. Production and OPEC Cuts

The video discusses the CME oil market, focusing on the tug of war between US shale production and OPEC cuts. It covers technical analysis, including Fibonacci levels, and the impact of production levels on the market. The correlation between a strong dollar and a depressed oil market is highlighted, along with predictions for future oil prices. The video concludes with a discussion on market setup and potential breakout levels.

What is the main factor giving the US production an edge in the oil market?

• Technological advancements in Europe

• Decreased global demand

• Surging American shale production

• OPEC's increased production

Which technical level is considered significant for crude oil resistance?

• 50.00

• 51.10

• 53.20

• 52.50

What is the expected production level of US oil in the near future?

• 13 million barrels per month

• 12 million barrels per month

• 11 million barrels per month

• 10 million barrels per month

How does a strong dollar currently affect the oil market?

• It boosts oil prices

• It depresses the oil market

• It has no effect

• It causes oil prices to fluctuate wildly

What is the potential upside if the market breaks out of the descending wedge?

• $300

• $410

• $510

• $610