Hi guys! 👋🏻
🔔 Conflicts, military operations, sanctions, COVID seem to be the headlines of 2022
🔔 The bursts of conflicts globally looks so intense that they might be the main drivers of oil prices.
🔔 I really don't think that EU will embargo Russian oil but if they really do, BRENT will hop to $160 easy, which according to the chart here is very possible.
🔔...
Prices are moving in a narrowing channel. If the prices can be permanent with the trend support passing through the middle of the channel, the target price will be between 67-63.
If they cannot be permanent in trend support, they can retreat and contact the bottom support of the channel again.
Only personal opinions and ideas. Does not Include Legal Investment advice...
