Hey yall, been a while since a posted an analysis but here it goes ..
2016 until present : Oil has been in an overall bullish direction . Minus the drop that happen to the low of 0.01 in 2020 , price still closed out around $48 that year. Then in 2022 price went up to $128 but closed at $80 that year. I took mark of the 2 year bearish trend that was through 2022-2023. First quarter of this year we see price break the price within that 2 year bearish trend. After a few analyzation, both technical and fundamental, I can see Oil reaching $100+ a barrel.
Fundamental side ..
1. War with Russia & Ukraine
2. OPEC+ announced a supply cut to keep prices higher
If you come across my analysis and you agree please feel free to like or leave a comment.
Blessings to you all!
2016 until present : Oil has been in an overall bullish direction . Minus the drop that happen to the low of 0.01 in 2020 , price still closed out around $48 that year. Then in 2022 price went up to $128 but closed at $80 that year. I took mark of the 2 year bearish trend that was through 2022-2023. First quarter of this year we see price break the price within that 2 year bearish trend. After a few analyzation, both technical and fundamental, I can see Oil reaching $100+ a barrel.
Fundamental side ..
1. War with Russia & Ukraine
2. OPEC+ announced a supply cut to keep prices higher
If you come across my analysis and you agree please feel free to like or leave a comment.
Blessings to you all!