weslad

Oil Approaches Major Decision Zone

TVC:UKOIL   CFDs on Brent Crude Oil
Hey guys,

Oil in serious surge after breaking through its bullish flag .

The real question is what happen next, will it break ATH or not.

This question answer can only be found out of chart and took me towards the fundamental possibilities, the current War between Russia and Ukraine will provide the much need response.

If the peace talk work between the two country, the chances for oil to break out will be very slim and if it does break out, it will only be a fake out and drop back done to re-test the strong immediate support zone towards 83$.

Moreover, if the current peace talk failed to hold, hmmm, the whole hell will let loose and nothing can stop the price from skyrocketing considering all the major sanctions on Russia and this will likely develops into WW3.

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