Oil has suffered a great blow the past month.Price have reached great lows under $20 a barrel. Price have gain momentum to just above $30 a barrel. Thereafter price broke the short term bullish trendline and moved downwards.
Price is to retest the broken trendline in the short term. Price also reached and support level and therefore bullish movement could be seen in the future. A long term realistic goal for buyers would be $50 a barrel. Positions may be held longer than a year.
Price is to retest the broken trendline in the short term. Price also reached and support level and therefore bullish movement could be seen in the future. A long term realistic goal for buyers would be $50 a barrel. Positions may be held longer than a year.