As we all know OIL have made a really strong trend and the buyers ruled for the past couple of months, but not all good stories end happy.
the rejection that the price have shown in the later week was strong taking the price back to where it came from, sure thing oil prices are gonna drop but it might be only a pullback for a new highs, as we have consumed most of it, sooner or later it's gonna break new highs, and this looks like a really good chance to do that, and as a proof if you went to check the monthly chart you would find that price literally just brock the only resistance that was holding the price from going above the 100$.
and this movement is just a pullback. price is going ALL THE WAY TO 145 give or take few dollars
the rejection that the price have shown in the later week was strong taking the price back to where it came from, sure thing oil prices are gonna drop but it might be only a pullback for a new highs, as we have consumed most of it, sooner or later it's gonna break new highs, and this looks like a really good chance to do that, and as a proof if you went to check the monthly chart you would find that price literally just brock the only resistance that was holding the price from going above the 100$.
and this movement is just a pullback. price is going ALL THE WAY TO 145 give or take few dollars