Planning to trade according to the SR levels shown in this chart. They drove prices way too high in the worst moment and they are killing demand, therefore I think a correction is highly needed to attract new contract longs.
If you look at the options volume and heat map you will notice that by march-may 2022 there will be a bottom in price, coinciding with the softening of OPEC+ output.
I expect price to behave more or less like this and then will re-evaluate from there, probably new longs to new highs around 80 to 90 USD but it all depends on the healthy of the global economy and its recovery from the covid pandemics.
Cheers.
If you look at the options volume and heat map you will notice that by march-may 2022 there will be a bottom in price, coinciding with the softening of OPEC+ output.
I expect price to behave more or less like this and then will re-evaluate from there, probably new longs to new highs around 80 to 90 USD but it all depends on the healthy of the global economy and its recovery from the covid pandemics.
Cheers.