Looking at the technical aspects, the current oil price is expected to go up because it has reached a point where it historically tends to change direction, known as double bottom.
This pattern resembles two low points situated closely together on a graph. As a result, there's a good chance that the oil price (WTI) might go up until it hits the next Fibonacci (FIB) level.
Do your own research!
This pattern resembles two low points situated closely together on a graph. As a result, there's a good chance that the oil price (WTI) might go up until it hits the next Fibonacci (FIB) level.
Do your own research!