Recently, USOIL and RECAF have both taken a tumble. Named "The Hottest Oil Play in Decades," we surely have more to see from RECAF in 2021 and 2022.
As you can see, USOIL's candlestick progression is clearly notated by the dark grey line displaying price action on the front.
Experts predict USOIL to bottom around $55-60 USD. After that, experts predict OIL to stabilize around $65-80 USD levels. The ultimate top predicted is $100. This would lead to gas prices around $4/gallon for your Suburu's fill up. At around $2.50, we still have plenty of room to run. However, Biden's administration has asked for lower gas prices for now, as the economy continues to recover from COVID. Will the Oil Barons be able to produce more oil to lower gas prices, or will we see gas prices once again rising up? I wouldn't put it out the question.
ACTION PLAN:
Currently, RECAF is still in a bear pattern, though we still a slight uptick today as price actions grapples for the last few bites of the bear.
1. Can RECAF's stock price go down to the most favorable price target for longs, $1.80-3.50 USD? Formidable support levels lie here, protecting it from falling lower.
2. Or will we remain in a bottoming formation pattern around $4.75-5.25 USD? The median price is $6.20 USD and that may be met sooner or later.
Overall long price target for long-term holders: $12.81 USD
Feel free to write your thoughts in the comments as well.
As you can see, USOIL's candlestick progression is clearly notated by the dark grey line displaying price action on the front.
Experts predict USOIL to bottom around $55-60 USD. After that, experts predict OIL to stabilize around $65-80 USD levels. The ultimate top predicted is $100. This would lead to gas prices around $4/gallon for your Suburu's fill up. At around $2.50, we still have plenty of room to run. However, Biden's administration has asked for lower gas prices for now, as the economy continues to recover from COVID. Will the Oil Barons be able to produce more oil to lower gas prices, or will we see gas prices once again rising up? I wouldn't put it out the question.
ACTION PLAN:
Currently, RECAF is still in a bear pattern, though we still a slight uptick today as price actions grapples for the last few bites of the bear.
1. Can RECAF's stock price go down to the most favorable price target for longs, $1.80-3.50 USD? Formidable support levels lie here, protecting it from falling lower.
2. Or will we remain in a bottoming formation pattern around $4.75-5.25 USD? The median price is $6.20 USD and that may be met sooner or later.
Overall long price target for long-term holders: $12.81 USD
Feel free to write your thoughts in the comments as well.