Is USOIL exhausting at resistance zone? As the price is been on high bull run but now it seems like price is lacking bullish momentum after printing double top pattern at resistance level and bearish divergence( on lower time frame) suggesting the sell pressure is about to start. If the bears took control , the 1st target could be 75. What you guys think of it?
Long term Brent call options at a high, Shale oil peaked or peaking, Russia oil tankers getting reprimanded, OPEC holds the cards. Supply demand is only in balance (arguably) if OPEC releases all capacity. So the question is, at what price does OPEC open up the taps? I'm gonna say over 100....and then it will take time to come online.
AlloysK
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Placed sell order at 79.22. Thanks for sharing. I am reassured 😊