USOIL : An in-depth analysis on USOIL

USOIL : An in-depth analysis on USOIL

As we can see USOIL is testing a very high price level at $116.8 seen for the last time on April-11 and previously on August-08.

So these levels are dating almost 11 years ago.
This is showing that the actual situation on U.S Oil prices is very critical and really overvalued.

On the other hand, we have the war conflict that is pushing the price higher.

I hope that the price will not test 147 as that would have been a completely bad situation for everyone.

I mean a bad scenario not related to the prices but related talks between the countries involved in the actual conflict.

Hope that everything will be back in normality soon.

The all-time high on the price has been $147.

So considering only the fact that we are getting back to almost 11-12 years
we can consider that the price is really overextended and from here we can see a correction phase.

These moves will not come in one day or one month, to be clear.

Thank you and Good Luck!