-- Technical --
Oil is above the 50/100/200 EMAs and continues it price climb - bull market trend.
shows we are overbought and is showing we are overextended and there will be some pull back - signal.
We have a hidden divergence in the and price trend, we may see a pull back to towards the $65-70 level before resumption to upwards to a ATH in 2022.
-- Fundamentals --
Under investment into the sector in 2020 is leading to reduction of will continue to grow throughout 2021 and 2022.
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*Not financial advice and is for educational purposes only. Always DYOR.