Oil has breeched a huge institutional liquidity zone on it's speedy covid-19 recovery surge.
It's currently trading through and if it keeps up the pace at this rate, it'll be breaking right through within the week.
Should price give us a nice strong breakout of the level, we should be waiting for a relatively strong retest before we see the continuation to the upside and back to levels at approximately $100+ a barrel before July.
This will be a longer term idea but with good merit and great potential.
Risk accordingly.
It's currently trading through and if it keeps up the pace at this rate, it'll be breaking right through within the week.
Should price give us a nice strong breakout of the level, we should be waiting for a relatively strong retest before we see the continuation to the upside and back to levels at approximately $100+ a barrel before July.
This will be a longer term idea but with good merit and great potential.
Risk accordingly.