With OPEC looking likely to raise the official oil price as oil fracking in the U.S starts to slow & the Saudis cutting oil prices, a surge in the price of most oil & petroleum companies is almost guaranteed. But the question is "how soon?". Looking at the current price of WPL and past chart patterns show that the price surge could be very, very soon.
Looking at past trends, we can see that a major fall in price a few months ago was a result of it breaking a mini support line. It has one now, does this hold or does something happen that can potentially see prices crash?
I'm only very new to this, this probably has no correlation... amy corrections/advice would be appreciated.
