Oil is headed towards 85 level. Many analysts are predicting lower oil demand due to Omnicron variant but the impact is yet to be seen.
We cannot expect the price crash similar to 2020 because there were no vaccines at that time and complete lock downs are very unlikely. Hence, do not wait to see the negative oil prices ;-)
We use Aspen Trading Support & Resistance Levels to risk manage our positions. These levels are invite only and can be accessed through url in my profile information.
Disclaimer: This analysis is for information purpose only and does not constitute any investment advice.
We cannot expect the price crash similar to 2020 because there were no vaccines at that time and complete lock downs are very unlikely. Hence, do not wait to see the negative oil prices ;-)
We use Aspen Trading Support & Resistance Levels to risk manage our positions. These levels are invite only and can be accessed through url in my profile information.
Disclaimer: This analysis is for information purpose only and does not constitute any investment advice.
Comment:
Oil is moving up nicely as expected. Our target is 85 dollar.