After OPEC+ announced a pause in production increases, Morgan Stanley quickly adjusted its oil price forecasts, not based on actual changes in output, but rather on a strong "signal" released by OPEC+.

On November 2, it was reported that OPEC+ announced plans to pause production growth in the first quarter of 2026, marking the first pause in production increases since the organization began restoring supply last April. In response, Morgan Stanley today (November 3) promptly raised its Brent crude oil price forecast for the first half of 2026 from $57.50 per barrel to $60.

Analysts Martijn Rats and Charlotte Firkins stated in their research report, "Even though OPEC's statement did not change our forecasting mechanism for production prospects, it did send an important signal that with OPEC's involvement, market volatility will decrease."

BTC: On the 4-hour level, the price has retraced near the lower Bollinger Band, showing a weak price trend, with short-term conditions oversold and a weak rebound demand.

On the daily level, the price continues to be suppressed by multiple moving averages, showing a weak price trend.

In summary, the support level is 107200, and the resistance level is 107600.

ETH: On the 4-hour level, the price has retraced to near the lower Bollinger Band, showing a weak price trend, with a support level of 3690 and a resistance level of 3720.

LTC: The price has retraced to near the lower Bollinger Band, showing a weak price trend, with a support level of 91 and a resistance level of 94.

BCH: The price continues to stay near the lower Bollinger Band, showing a weak price trend, with short-term conditions having weak rebound demand, a support level of 510, and a resistance level of 540.

That's all for now, good night!

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