First target is $160. Why? This is where long-term support is at (How do I know? I'm not telling).
Bullish momentum has largely been subdued in the last 2 years. We have just finished the consolidation phase and have began the descent about 2 months ago.
My first target is actually the most 'conservative' target ...
This is tricky because we're near yearly high
and the price has indeed soared quite rapidly
in the past few weeks.
In fact, in-house estimate of momentum shows
weakening of momentum in the short run so there's
definitely a possibility that we make a lower high
But until then, price seems quite ...
Put your seatbelt on because after 10 months of delay we're finally cleared for take-off
If you're worried about possible rise in WTI prices, hedge it using either ETFs or Futures.
My in-house analysis show building of a major medium/long term bullish momentum.