It is as simple as that. Not much more to be said than that, the chart says it all. Too many touches on the resistance and we had the most insane capitulation in 2020. The production of oil has taken a big hit and the price will keep rising as demand comes back. That's bad for growth, but we are here to make money. Hedge your fuel expenses and go long Oil!
Brent Crude was on its way to break
$100/barrel. COVID Crisis came in
and swept value it took
20 years to build.
It doesn't take an economist with
PhD to realize low demand
caused this current oil crash.
So this low low low prices
is temporary...that
I can guarantee.
Good morning, traders. Price hit our target from yesterday. The H1 chart is what I posted to our premium Discord community prior to price popping up this morning. At this time, the H1 RSI and Stoch RSI still have room to continue higher. If price closes above the ascending channel resistance in the next two hours, then we should be looking for it to target the...
