Following OPEC announced willingness to have production cut from last week meeting. Market is awaiting further details from OPEC meeting on November. As interest rate hike is seeing slim chance till year end, Oil movement could determine market direction on the month. Price surged >7% last week. It is hitting a downward resistance ~ USD48. Shall this be broken, next ceiling would be USD50. US election could be another major factor affecting market sentiment.
Market Calendar on coming week:
(SG: Singapore; CH: China; UK: United Kingdom; US: USA)
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